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“However, if there is common knowledge of rationality, you know that others will not stop at the first step, so you can continue this iterative reasoning forever – a process of reasoning that involves repetition of the same process, taking the result from one round as a starting point for the next.”

Ivan Pastine, Introducing Game Theory: A Graphic Guide
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Introducing Game Theory: A Graphic Guide (Graphic Guides) Introducing Game Theory: A Graphic Guide by Ivan Pastine
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