Material Detail
Introduction of Backward Induction Technique Using a Classroom Experiment
This is a classroom activity to introduce students to the idea of backward induction. Students, in teams of two, play the Game of 21 repeatedly with progressively smaller action spaces in every repetition. As the number of available actions become sufficiently small in later repetitions, students discover the obvious winning strategy. This experience is then used to introduce the logic of backward induction and the Subgame Perfect Nash...
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More about this material
- Material Type:
- Drill and Practice
- Date Added to MERLOT:
- December 29, 2022
- Date Modified in MERLOT:
- January 2, 2023
- Author:
- Unknown (Know the author?)
- Submitter:
-
Cathy Swift
- Primary Audience:
- College General Ed, College Lower Division, College Upper Division
- Technical Format:
- Website
- Mobile Compatibility:
- Not specified at this time
- Language:
- English
- Cost Involved:
- No
- Source Code Available:
- Unknown
- Creative Commons:
-
This work is licensed under a Attribution-NonCommercial-ShareAlike 4.0 International
