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Problem 3 Consider the following simultaneous normal form game: P.2 R P R 0,0 -1,1 1, -1 P.1 P 1, -1 0,0 -1, 1 -1, 1 1, -1 0,0 Now assume the game is not simultaneous and player 1 gets to play first. Create a game tree that represents the sequential game. Also, name each node, define the set of information sets for each player, show which nodes are in which information set and add define action sets at each info set.

Problem 3 Consider the following simultaneous normal form game: P.2 R P R 0,0 -1,1 1, -1 P.1 P 1, -1 0,0 -1, 1 -1, 1 1, -1 0,0 Now assume the game is not simultaneous and player 1 gets to play first. Create a game tree that represents the sequential game. Also, name each node, define the set of information sets for each player, show which nodes are in which information set and add define action sets at each info set.

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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Problem 3 Consider the following simultaneous normal form game: P.2 R 0,0 -1, 1 1, -1 P.1 P 1, -1 0,0 -1, 1 S -1, 1 1, -1 0,0 Now assume the game is not simultaneous and player 1 gets to play first. Create a game tree that represents the sequential game. Also, name each node, define the set of information sets for each player, show which nodes are in which information set and add define action sets at each info set.
Transcribed Image Text:Problem 3 Consider the following simultaneous normal form game: P.2 R 0,0 -1, 1 1, -1 P.1 P 1, -1 0,0 -1, 1 S -1, 1 1, -1 0,0 Now assume the game is not simultaneous and player 1 gets to play first. Create a game tree that represents the sequential game. Also, name each node, define the set of information sets for each player, show which nodes are in which information set and add define action sets at each info set.
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