Question: 1. Consider the following game. A B D E F G H I IK K L M N 3,4 4,3 1,2 5,7 - 6,5

1. Consider the following game. A B D E F G H I IK K L M N 3,4 4,3 1,2 5,7 - 6,5 2,8 9,1 3,6 (a) How many proper subgames does this game have? 8 (b) Solve the game by backward induction and report the strategy profile that results.

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Explanation of the answers to the subgame perfect equilibrium question a There are 7 proper subgames A subgame is a portion of a game that starts at a ... View full answer

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