Aspiration can be positive since it allows motivation. For example, the aspiration of one day owning a car motivates a person to work hard. On the other hand, this can have a negative effect when the aspirations are are set too high and not met for instance, someone aspiring a goal of becoming a millionaire was not met. This could affect the person by causing them to loose all motivation and potentially loose themselves and other aspirations.

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2 years ago

Moulin Beauty contest iterative elimination of weakly dominated strategies

LekaFEV [45]

Iterated elimination of strictly dominated strategies (IESDS) is a common technique that is used to get solutions to games that involve iteratively removing dominated strategies.

<h3>What is a weakly dominated strategy?</h3>

This refers to the type of strategy that delivers an equal or worse outcome than an alternative strategy.

Hence, we can see that in game theory, the use of strategic dominance is used when one strategy is better than another strategy for one player, not withstanding the efforts of the other player.

Therefore, this can be eliminated with the use of iterations to remove the weakly dominated strategies