Problem
1. Why might a player pursue a mixed strategy?
2. Why is the maximin strategy considered a conservative strategy?
3. Define backward induction. How can backward induction be used to solve a strategic game?
4. Compare the grim trigger and tit-for-tat strategies.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.