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Game Theory 101: Forward Induction and Burning Money

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Published on Dec 23, 2009

Game Theory 101: The Complete Textbook on Amazon: http://amzn.to/1SlRTtg

http://gametheory101.com/courses/game...

William Spaniel explains how willingness to light one's money on fire can help players improve their payoffs. In the process, he introduces a new solution concept known as forward induction.

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