Backward induction is a useful tool for:
A) finding an optimal strategy in a sequential game.
B) analyzing the decisions in a prisoner's dilemma-type game.
C) finding an optimal strategy in a simultaneous game.
D) Backward induction is useful in any of these games.

Question

Quizplus · Accepted Answer

Backward induction involves working backwards from the end of a sequential game to determine optimal strategies at each point in the game. Therefore, it is particularly useful for finding an optimal strategy in a sequential game.

Backward Induction Is a Useful Tool For