38: The Great Stratagem Heist (Game Theory: Iterated Elimination of Dominated Strategies)

Game theory is all about decision-making and how it is impacted by choice of strategy, and a strategy is a decision that is influenced not only by the choice of the decision-maker, but one or more similar decision makers. This episode will give an idea of the type of problem-solving that is used in game theory. So what is strict dominance? How can it help us solve some games? And why are The Obnoxious Seven wanted by the police?

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