Which of the following is a mechanism by which a person decides what to do in a repeated game situation by looking at the previous games from the last stage of the game?

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Backward induction is a method used in game theory to determine the optimal strategy by starting from the last possible move of the game and working backwards to deduce the sequence of actions that leads to the best outcome for a player. In repeated games, it helps in analyzing what decisions to make by considering the outcomes of previous stages.

Which of the Following Is a Mechanism by Which a Person