dominant strategy
- whatever the others are doing a specific strategy is always the best
- player-specific, not all agents have to have the same dominant strategy
- always part of equilibrium
dominated strategy
- whatever the others are doing a specific strategy will always be inferior to another strategy
- never part of equilibrium
weakly dominant strategy
-
= than all others
- might be part of (some) equilibrium
weakly dominated strategy
- ⇐ than all others
- might even be part of (some) equilibrium
- although unlikely