Construct · 1 fields · 1 citations

centipede game: a standalone construct

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Game theory

a sequential game where passing grows the pot but backward induction predicts immediate taking, which people rarely do.

In game theory, centipede game refers to a sequential game where passing grows the pot but backward induction predicts immediate taking, which people rarely do. This meaning comes from McKelvey (1992) in Econometrica.[1]

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Nearby constructs

backward induction2 fields · 2 citationsinvariant · one construct, two systems game2 fields · 3 citationsjingle · one word, two constructs induction4 fields · 4 citationsjingle · one word, four constructs

References

McKelvey, R. D., & Palfrey, T. R. (1992). An Experimental Study of the Centipede Game. Econometrica, 60(4), 803. https://doi.org/10.2307/2951567

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