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

I first learned my craft on Wall Street in the 1980s, a very different era, characterized by the bravado of Gordon Gekko’s “Greed is Good” speech. During that period, I was taught that all ...

The duo described ‘games’ in its simplest form – when one man’s gain is another man’s loss. Nash, however, questioned the proposition and asked what would be the best response in case one player had ...

John F. Nash Jr. is widely known as the subject of the Oscar-winning film “A Beautiful Mind,” but his contributions to the advancement of human knowledge are far greater. Nash paved the way for game ...