Question: Consider a game with two players, 1 and 2. They play the extensive-form game summarized in the game tree below: a. Suppose Player 1 is

Consider a game with two players, 1 and 2. They play the extensive-form game summarized in the game tree below:

a. Suppose Player 1 is choosing between the gray and black for his second move. Which will he choose if:
i. Gray, Gray has been played.
ii. Black, Black has been played
b. Suppose Player 2 is choosing between green and red, knowing the information above. Which will he choose if:
i. Gray has been played.
ii. Black has been played.
c. Finally, suppose Player 1 is choosing between gray and red in the first move. Given the information above, which will he choose?
d. Now describe the path that gives an equilibrium in this extensive game.

Player 1 gets 1 unit Player 2 gets 1 unit Player 1 Player 1 gets 2 units Player 2 gets 0 units Player 2 Player 1 gets 1 unit Player 2 gets 5 units Player 1 gets 1 unit Player 2 gets 2 units Player 1 a Player 2 Player 1 gets 5 units Player 2 gets 3 units Player 1 Player 1 gets O units Player 2 gets 4 units

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