In this field of mathematics, a certain class of "perfect equilibria" is commonly derived using the technique of backwards induction.
In this field of mathematics, a certain class of "perfect equilibria" is commonly derived using the technique of backwards induction. "Tit-for-tat" has proven surprisingly effective as a solution to "iterated" objects studied in this field, which was originated by von Neumann. Objects of study in this field that have only Pareto-optimal solutions are called "zero-sum". A famous object of study in this field involves two agents who may choose to cooperate with one another or to defect; that situation features one Nash equilibrium. For 10 points, name this mathematical field that studies decision-making in namesake situations, using situations like the prisoner's dilemma as a model.
In this field of mathematics, a certain class of "perfect equilibria" is commonly derived using the technique of backwards induction.
game theory [accept decision theory until "decision-making"; prompt on "economics"; prompt on "mathematics"] 