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14. Backward induction: commitment, spies, and first-mover advantages by Ben Pollack
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.
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.
