Backward induction involves:
A)the process of analyzing a problem in reverse.
B)thinking forward and working backward.
C)starting with the last choice and working backward to determine an optimal strategy.
D)All of these statements are true.

Question

Quizplus · Accepted Answer

Backward induction is a method used in decision making and game theory where one starts from the end of a problem and works backwards to determine the optimal strategy. It involves thinking forward about the possible outcomes and then working backward to make the initial decision, thus all the provided statements accurately describe aspects of backward induction.

Backward Induction Involves