Q17. What the information sets in the above game denote? Player 2 does not observe the action of player 1, so he does not know in which decision node he/she is playing at. Player 2 does not observe the precise action of player 1, but he does know that player 1 has played either one between a and b, or one between c and d. Player 2 does not observe the precise action of player 1, but he does know that player 1 has played one between a and c, or one betwee
Q17. What the information sets in the above game denote? Player 2 does not observe the action of player 1, so he does not know in which decision node he/she is playing at. Player 2 does not observe the precise action of player 1, but he does know that player 1 has played either one between a and b, or one between c and d. Player 2 does not observe the precise action of player 1, but he does know that player 1 has played one between a and c, or one betwee
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter13: Positive Externalities And Public Goods
Section: Chapter Questions
Problem 25P: Becky and Sarah are sisters 1who share a room. Their room can easily get messy, and their parents am...
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Q17. What the information sets in the above game denote?
- Player 2 does not observe the action of player 1, so he does not know in which decision node he/she is playing at.
- Player 2 does not observe the precise action of player 1, but he does know that player 1 has played either one between a and b, or one between c and d.
- Player 2 does not observe the precise action of player 1, but he does know that player 1 has played one between a and c, or one between b and d.
- Player 2 does not observe the precise action of player 1, but he does know that player 1 has played either one between a and d, or one between b and c.
Q18. If we want to describe the above game with a strategic form representation, what would the strategy sets for the three players?
- Player 1={a, b, c, d} ; Player 2={x, y}
- Player 1={a, b, c, d} ; Player 2={xx, xy, yx, yy}
![Q16. Describing games
2
X
Player 1
Player 2 2
42
X
22
1
3 2
0
X
3
42
X
15
5
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Transcribed Image Text:Q16. Describing games
2
X
Player 1
Player 2 2
42
X
22
1
3 2
0
X
3
42
X
15
5
SOO
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