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it induces Nash behavior in each sub-game.
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I think the battery is going on that.
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Shall I get rid of that.
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Okay, I'm going to shout.
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Can people still hear me?
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People in the balcony can they hear me? Yup, okay
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So we're going to have to see if we can sustain Nash behavior
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in each sub-game.
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So let's start with the sub-games associated with the second period.
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Technically, there are nine such sub-games
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depending on what happened in the past,
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depending on what happened in the first period.