Lecture 3 - Iterative Deletion and the Median-Voter Theorem

We apply the main idea from last time, iterative deletion of
dominated strategies, to analyze an election where candidates can
choose their policy positions. We then consider how good is this
classic model as a description of the real political process, and
how we might build on it to improve it. Toward the end of the
class, we introduce a new idea to get us beyond iterative deletion.
We think about our beliefs about what the other player is going to
do, and then ask what is the best strategy for us to choose given
those beliefs?