The Backward Induction Argument

Theory and Decision 48 (1):61-84 (2000)
Abstract
The backward induction argument purports to show that rational and suitably informed players will defect throughout a finite sequence of prisoner's dilemmas. It is supposed to be a useful argument for predicting how rational players will behave in a variety of interesting decision situations. Here, I lay out a set of assumptions defining a class of finite sequences of prisoner's dilemmas. Given these assumptions, I suggest how it might appear that backward induction succeeds and why it is actually fallacious. Then, I go on to consider the consequences of adopting a stronger set of assumptions. Focusing my attention on stronger sets that, like the original, obey the informedness condition, I show that any supplementation of the original set that preserves informedness does so at the expense of forcing rational participants in prisoner's dilemma situations to have unexpected beliefs, ones that threaten the usefulness of backward induction
Keywords Backward induction  Iterated prisoner's dilemma  Common knowledge
Categories (categorize this paper)
Options
 Save to my reading list
Follow the author(s)
My bibliography
Export citation
Find it on Scholar
Edit this record
Mark as duplicate
Revision history Request removal from index
 
Download options
PhilPapers Archive


Upload a copy of this paper     Check publisher's policy on self-archival     Papers currently archived: 11,412
External links
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library
References found in this work BETA

No references found.

Citations of this work BETA

No citations found.

Similar books and articles
Joe Mintoff (1999). Decision-Making and the Backward Induction Argument. Pacific Philosophical Quarterly 80 (1):64–77.
Cristina Bicchieri (1988). Backward Induction Without Common Knowledge. PSA: Proceedings of the Biennial Meeting of the Philosophy of Science Association 1988:329 - 343.
Analytics

Monthly downloads

Added to index

2010-09-02

Total downloads

10 ( #148,771 of 1,103,045 )

Recent downloads (6 months)

5 ( #62,017 of 1,103,045 )

How can I increase my downloads?

My notes
Sign in to use this feature


Discussion
Start a new thread
Order:
There  are no threads in this forum
Nothing in this forum yet.