Explain the concept of dominant strategy in game theory.

Explain the concept of dominant strategy in game theory.

In game theory, a dominant strategy refers to a strategy that yields the highest payoff for a player regardless of the strategies chosen by other players. It is a strategy that is always the best choice, regardless of the circumstances or actions of other players. In other words, a dominant strategy is the optimal strategy for a player, ensuring the highest possible outcome regardless of the choices made by other players in the game.