The process of looking at the final outcome and then reasoning back to initial decisions is called:
A) sequential decision-making.
B) simultaneous decision making.
C) forward induction.
D) backward induction.

Question

Quizplus · Accepted Answer

The process of reasoning backwards from the final outcome to the initial decisions is called backward induction. This is often used in game theory to determine the optimal strategy for each player based on their ability to reason backwards from the final outcome. Therefore, option D is the correct answer.

The Process of Looking at the Final Outcome and Then