Backward induction refers to:
A)a procedure for solving a sequential-move game by starting at the beginning of the game tree and finding the optimal decision for the player at each decision point.
B)a procedure for solving a sequential-move game by starting at the end of the game tree and finding the best response function at each decision point.
C)a procedure for solving a sequential-move game by starting at the end of the game tree and finding the player's motives for making the decision at each decision point.
D)a procedure for solving a sequential-move game by starting at the end of the game tree and finding the optimal decision for the player at each decision point.

Question

Quizplus · Accepted Answer

Backward induction is a technique used to solve sequential-move games by starting at the end of the game and working backwards towards the beginning. At each decision point, the player chooses the optimal decision given the decisions that will be made in the future. Therefore, the correct answer is D, which states that backward induction involves finding the optimal decision for the player at each decision point by starting at the end of the game tree. Backward induction is a procedure for solving sequential-move games by starting at the end of the game tree and finding the optimal decision for the player at each decision point. This means that players start with the final outcome of the game and work backwards, considering the best decision to make at each step, ultimately leading to the initial decision point.

Backward Induction Refers To