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

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

no written by hand solution and no image

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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