= Consider the following strategic situation. Agent 1 has three possible choices: A {5, 6, 7}...
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= Consider the following strategic situation. Agent 1 has three possible choices: A₁ {5, 6, 7} and agent 2 has three possible choices: A₂ = {4,5,6}. Let a₁ and a2 be representative actions of 1 and 2. Agents payoff functions are: u₁ (a1, a2) = a1 (4+ a2a₁) u₂(a1, a2) = a₂ (4 + a₁-a₂) Agent 1 moves first, selecting an action from A₁. Then, having observed the choice of 1, agent 2 makes a choice from A2. Draw the extensive form of the game and solve by backward induction. = Consider the following strategic situation. Agent 1 has three possible choices: A₁ {5, 6, 7} and agent 2 has three possible choices: A₂ = {4,5,6}. Let a₁ and a2 be representative actions of 1 and 2. Agents payoff functions are: u₁ (a1, a2) = a1 (4+ a2a₁) u₂(a1, a2) = a₂ (4 + a₁-a₂) Agent 1 moves first, selecting an action from A₁. Then, having observed the choice of 1, agent 2 makes a choice from A2. Draw the extensive form of the game and solve by backward induction.
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Discrete and Combinatorial Mathematics An Applied Introduction
ISBN: 978-0201726343
5th edition
Authors: Ralph P. Grimaldi
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