Explore how backward induction helps solve game theory problems by working from the end backward to determine optimal actions. Learn with practical examples.

What does it mean to behave rationally? This question sounds like a problem for philosophers. Yet mathematicians also have something to say about it. In the last few decades, game theory—the ...

Nash equilibrium helps predict other investors' moves; no net gain by altering your long-term strategy. A dominant strategy excels regardless of others' actions, aiding investment decisions. Using ...

Game theory applications have increasingly become central to understanding and enhancing security measures and effective resource allocation in complex, real-world scenarios. By framing strategic ...

Much of the literature on rational cryptography focuses on analyzing the strategic properties of cryptographic protocols. However, due to the presence of computationally-bounded players and the ...