Explore how backward induction helps solve game theory problems by working from the end backward to determine optimal actions ...

Discover how the Centipede Game illustrates conflict between self-interest and mutual benefit, as well as why real-world ...

Game theory helps investors predict outcomes in markets where decisions impact each other. Understanding game theory equips investors to strategically anticipate market actions. Game theory-informed ...

People like to help those who are helping them, and to hurt those who are hurting them. Outcomes reflecting such motivations are called fairness equilibria. Outcomes are mutual-max when each person ...