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

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Have you ever played the 21 Game? It’s a deceivingly easy numbers game, which goes like this: Starting at 0, two players take turns adding 1, 2, or 3. For instance, the first player could start by ...