Decision tree analysis is based on Bellman's principle, which states that for any choice of strategy in a given state,
A) the optimal strategy is the one that is selected if the entire analysis is assumed to begin in the first period.
B) the optimal strategy is the one that is selected if the entire analysis is assumed to begin in the last period.
C) the optimal strategy in the next period is the one that is selected if the entire analysis is assumed to begin in the last period.
D) the optimal strategy in the next period is the one that is selected if the entire analysis is assumed to begin in the next period.
Answer: D
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