Can the dimensionality of the game be reduced by the use of “iterated deletion of strictly dominated strategies”? If so, show all intermediate steps clearly. 


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Model Exploration

Consider a two player strategic form game of the form given by the following payoff matrix:

 Issues to explore 
In exploring the two player strategic form game, consider the following issues:

1. Can the dimensionality of the game be reduced by the use of “iterated deletion of strictly dominated strategies”? If so, show all intermediate steps clearly. 

2. After eliminating all strategies by IDSDS (if any), determine which of the pure strategies in the new strategic form are rationalizable. For each strategy clear demonstrate whether it is rationalizable or not, and why. 

3. Develop an essay on the role of IDSDS and rationalizability in solving strategic form games, why the concepts are important, how they relate to rationality as common knowledge, and how they work to find solutions (equilibria) to games. Use your analysis of the assigned strategic form game to illustrate your points. 


Completing the Assignment

 Document guidelines 
Develop a write up of your explorations in a Mathematica notebook that meets professional standards:

• !  The discussion of your analysis and essay should be 750-1000 words and the writing should meet professional standards.
• !  The audience for the discussion is other economists who have had training in game theory. Thus, you should use the language and terminology of game theory to convey your findings.
• !  All sources and direct quotes should be properly cited. Use the APA in-line style for citations in the body of the text and APA style for listing references at the end of the notebook. !  The Mathematica notebook should be well organized into sections with appropriate subsections and discussion of your analysis. Use appropriate tables.