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Game Theory 101: Tying Hands (Burning Bridges)

Game Theory 101: The Complete Textbook on Amazon: http://www.amazon.com/gp/product/B005L7ANWC/ref=as_li_ss_tl?ie=UTF8&camp=1789&creative=390957&creativeASIN=B005L7ANWC&linkCode=as2&tag=gamthe101-20You might think that limiting your future options is a bad thing. After all, if you eliminate one possible course of action in the future, you will be unable to utilize it if it becomes necessary. However, to make a threat credible, you sometimes need to take all other options off the table. We call this "tying hands." This lecture gives the classic example of an invading army burning the bridge behind it to close off any avenue of retreat.
Length: 04:45

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