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

Business owners will often set individual goals to motivate employees and reach company objectives. Goals that are hard to reach are often more intriguing, as more work is required to fulfill them.

Gordon Scott has been an active investor and technical analyst or 20+ years. He is a Chartered Market Technician (CMT). Nash equilibrium is a game theory state where a change in one participant's ...

Theory guides teaching, patient care, and research. Most are unaware of psychiatry’s and medicine’s guiding theory. Their present reductionistic theory has been discarded by all other sciences.

Systems theory was not originally a business theory. Indeed, systems theory was proposed in the 1940s by biologist Ludwig von Bertalanffy, say Francis Heylighen and Cliff Joslyn in their article, ...

When asked the question, "What is a theory?" most of my students (regardless of age or educational level) respond with an explanation that is akin to "a reasonable, educated/informed guess." Indeed, ...

A few years ago the city council of Monza, Italy, barred pet owners from keeping goldfish in curved fishbowls. The sponsors of the measure explained that it is cruel to keep a fish in a bowl because ...

RALEIGH, N.C. (AP) — It has become a major issue in the Virginia governor’s race. Former President Donald Trump has railed against it. Republicans in the U.S. Senate introduced a resolution condemning ...