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8. Consider a scenario in which a father first chooses between actions yes, no, and maybe. His daughter moves second and chooses between stay home and go to the mall. Write the extensive form of this scenario given the following payoffs: Outcome Yes and stay home Yes and go to the mall No and stay home No and go to the mall Maybe and stay home Maybe and go to the mall Father's Payoff Daughter's Payoff 8 3 5 9 4 1 1 7 2 5 2 7

8. Consider a scenario in which a father first chooses between actions yes, no, and maybe. His daughter moves second and chooses between stay home and go to the mall. Write the extensive form of this scenario given the following payoffs: Outcome Yes and stay home Yes and go to the mall No and stay home No and go to the mall Maybe and stay home Maybe and go to the mall Father's Payoff Daughter's Payoff 8 3 5 9 4 1 1 7 2 5 2 7

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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8. Consider a scenario in which a father first chooses between actions yes, no, and maybe. His daughter moves second and chooses between stay home and go to the mall. Write the extensive form of this scenario given the following payoffs: Outcome Yes and stay home Yes and go to the mall No and stay home No and go to the mall Maybe and stay home Maybe and go to the mall Father's Payoff Daughter's Payoff 8 3 5 9 4 1 1 7 2 5 2 7
Transcribed Image Text:8. Consider a scenario in which a father first chooses between actions yes, no, and maybe. His daughter moves second and chooses between stay home and go to the mall. Write the extensive form of this scenario given the following payoffs: Outcome Yes and stay home Yes and go to the mall No and stay home No and go to the mall Maybe and stay home Maybe and go to the mall Father's Payoff Daughter's Payoff 8 3 5 9 4 1 1 7 2 5 2 7
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