In a subgame-perfect equilibrium

Question

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In a subgame-perfect equilibrium, each player's strategy constitutes a Nash equilibrium at every subgame of the original game. This means that regardless of which subgame is being played, each player is making the best decision given their opponent's actions, and there is no incentive for any player to deviate from their strategy. It does not necessarily mean that the first or last mover has an advantage, nor does it require that each player has the same response at every subgame.

In a Subgame-Perfect Equilibrium