(A) What does it mean to use backward induction or rollback to predict the play of...

 

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(A) What does it mean to use "backward induction" or "rollback" to predict the play of a sequential-move game? What (implicit or explicit) assumptions are being made? When is the use of this technique most appropriate? (B) Document a situation in which backward induction (or rollback) explains the outcome, and also an example of a situation in which the outcome deviated from the prediction. For the second case, why did the prediction fail? (A) What does it mean to use "backward induction" or "rollback" to predict the play of a sequential-move game? What (implicit or explicit) assumptions are being made? When is the use of this technique most appropriate? (B) Document a situation in which backward induction (or rollback) explains the outcome, and also an example of a situation in which the outcome deviated from the prediction. For the second case, why did the prediction fail?