In game theory, a dominant strategy is one that
1.is preferred by the most powerful player.
2.is imposed by the most powerful player on the weaker player.
3.provides the best payoff for a player regardless of the strategy chosen by the opponent.
4.None of these answers is correct.
Answer
3.provides the best payoff for a player regardless of the strategy chosen by the opponent.
This simply describes a situation of equilibrium where each player’s strategy is optimal given the strategies of all other players with the right strategy for an individual remaining the same
Explanation
Basically, if a strictly dominant strategy exists for one player in a game, that player will play that strategy in each of the game’s Nash equilibria. This is applicable where models can be useful, such as economics or politics, and also can help in games like bridge and knowing that dominant strategy is one that will have the absolute best effects irrespective of the opponents or partners do.
