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

Russell has a PhD in the history of medicine, violence, and colonialism. His research has explored topics including ethics, science governance, and medical involvement in violent contexts. Russell has ...

What if you could predict your competitor’s next move before they even made it? Game theory gives you the tools to do just that. Have you ever noticed how a new product launched by one brand often ...

The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their ...

But what does game theory look like in practice? What kinds of ‘games’ fall under this concept, and how do they enhance our understanding of strategic behavior in real-life situations? In this article ...

Game theory helps investors predict outcomes in markets where decisions impact each other. Understanding game theory equips investors to strategically anticipate market actions. Game theory-informed ...