Kawagoe, Toshiji; Takizawa, Hirokazu - In: Journal of Economic Behavior & Organization 82 (2012) 2, pp. 548-566
As one of the best-known examples of the paradox of backward induction, centipede games have prompted a host of studies with various approaches and explanations (McKelvey and Palfrey, 1992; Fey et al., 1996; Nagel and Tang, 1998; Rapoport et al., 2003; Palacios-Huerta and Volij, 2009). Focusing on initial plays...