Definition
IEDS is a process used in game theory whereby strategies that are dominated by other strategies are successively removed. The remaining strategies are consistent with rational behaviour, helping us predict how rational players will act.
Example:
When player 2 chooses salsa, player 1 has two options: salsa (80) or disco (40). 80 is greater than 40, thus 40, the disco option is dominated by salsa (80).
When player 2 chooses disco, player 1 has two options: salsa (60) or disco (40). 60 is greater than 40, thus 40, the disco option is again dominated by salsa.
Outcome: disco is strictly dominated by salsa.
This process is repeated for all players until no more strategies can be eliminated.
