Posting has been sparse the past two weeks for a number of reasons, but hopefully will get back on track again soon. Last weekend I missed posting more from the Yale lecture series from Ben Polak on game theory. If you are new to the site, check out this page for a great number of educational pieces from various subject matter experts.
You might think game theory is simply a theoretical scholarly diversion. But Polak laces his lectures with as number of examples that relate to real-world situations. This particular lecture continues the series and Polak talks about backward induction - using cases of commitment, spies, and first-mover advantages.