Binmore and Reny demonstrated that sequential rationality presupposes a counterfactual theory of what players would do at unreached nodes, yet no agreed interpretation of counterfactuals in extensive-form games exists.

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Binmore and Reny(as referenced researchers in game theory): Ken Binmore and Philip Reny are economists and game theorists who studied how people make decisions in strategic situations; they made important discoveries about the rules that should govern rational decision-making.
Extensive-form games(as a mathematical model for analyzing strategic situations): A way of representing games where the order and timing of moves matter; you map out every possible decision point and outcome, like a flowchart of a chess game.
Sequential rationality(as a concept in game theory and decision-making): The principle that a person should make decisions that are logically consistent and self-interested at every step of a situation, even when they can't go back and change earlier choices.
Unreached nodes(as a technical term in game theory diagrams): Points in a game or decision tree that a player never actually arrives at because they made different choices earlier—but you might still need to think about what would happen there.

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