Suppose that player 1 first plays top middle or bottom, Ask an Expert

Economics

Suppose that Player 1 first plays Top, Middle or Bottom. Player 2 only finds out whether player 1 has played Bottom. If so, he plays Left or Right; if not, he plays In or Out. The payoffs are: (1,1) after (Top, In), (0,0) after (Top, Out), (0,0) after (Middle, In), (1,1) after (Middle, Out), (0.6,0.6) after (Bottom, Left), (0,0) after (Bottom, Right). Draw the game tree, identify the subgame(s), find the subgame perfect equilibria in pure strategy. Is there any Nash equilibrium that is not subgame-perfect?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91570603

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