Benjamin Buffett

14. Backward induction: commitment, spies, and first-mover advantages by Ben Pollack The idea of backward induction, I am understanding more of the logic. Specifically as it comes to games, life, and business. The dot com era that I experienced first mover advantage via the large sums of money they raise to push an idea. Yet as I am learning, second mover advantage may be more beneficial as I consider my plans. Starting from the end,  or backward induction, implies seeing the whole picture while considering all possible players and considering what they will de based on your moves. You may not be 100% correct yet it will give you a better advantage than just going blind so to speak. "Knowing" what your competition may do is beneficial in that it gives you a marker and allowed a more thought out idea to ensue. As I consider, Black Button, this becomes more important yet in a small town does it. Not if you are first mover.

Taking the time and think and plan. Novel yes yet seems to be a refreshing perspective. I am going to give myself 10 days to come up with a working model to follow for the next 3 months, Starting Dec 1 2012. I will have all my accounts in order and lines of business identified, summarized, and milestone established for each line. I was recently asked if I was religious. Not that I am never asked the question, I rarely answer or hear the question. Religion and Science are one. Science and Religion are one. Its the your discipline that is in question. In so doing, I shall find a book or two to read during this time period. Maybe Think and Grow Rich, Greatest Man in Babylon, or the "Matt McConahe book reference". My Game Theory research is 60% complete. Eleven more chapters to research. Do I plan to have it completed in the same time period. It's a momentous occasion and the reason for the strategic plan model. I created an income stream that has a runway of 5 months d

13. Sequential games: moral hazard, incentives, and hungry lions    Introduction to backward induction.  is the process of reasoning backwards in time, from the end of a problem or situation, to determine a sequence of optimal actions. It proceeds by first considering the last time a decision might be made and choosing what to do in any situation at that time. Using this information, one can then determine what to do at the second-to-last time of decision. This process continues backwards until one has determined the best action for every possible situation (i.e. for every possible  information set ) at every point in time. Each time I watched this video my mind started wandering backwards forward so to speak. Mostly in ways to improve my current thoughts and projects. See the finished project the ideal picture, then work backwards to see what details create the ideal. My friend recently wrote the Eden Series sci fiction. Do I read it, do I allow other thoughts and idea into play