How does game theory change when opponents make sequential rather than simultaneous moves? Learn about subgame equilibrium and credible threats.
War: what is it good for? Learn to use backward induction to determine each player's optimal strategy in deciding between peace and escalation to war.
Learn how not to write a subgame perfect equilibrium: avoid the classic blunders such as omitting strategies that are off the equilibrium path of play.
Most game theory scenarios have one subgame equilibrium, but if players are indifferent due to equal payoff, there can be multiple subgame perfect equilibria.
Learn when and why to burn your bridges (i.e., limit your own options) in this lesson on creating credible threats in subgame equilibrium game theory.
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