Consider the following extensive game, where the payoffs aregiven in the following order, from left to right: (player 1, player2, player 3).
- Game Theory Extensive Backward Induction Consider The Following Extensive Game Where The Payoffs Are Given In The 1 (36.25 KiB) Viewed 11 times
(b) Are there values of y for which Player 3 has a strictlydominant strategy? If your answer is Yes, say what values and whatstrategy, if your answer is No explain why not.
(c) Does Player 2 have weakly dominated strategies? (If your answeris Yes, name the strategies and the strategies that dominate them;if your answer is No prove your claim.)
(d) For what values of y does Player 3 have a weakly dominatedstrategy? Name the strategy.
(e) How many strategies does Player 2 have?
(f) Find all the backward induction solutions when x = 1 and y =2.
(g) Find the backward-induction solution when x = 1 and y = 3.
(h) Assume that x = 1 and y = 1. Is there a Nash equilibriumwherePlayer 1 plays C? If Yes, then say what the equilibrium is, if Nothenexplain why not.
(x, 4, 8) C F (0, 4,0) 2 B G 1 (8,0,5) H A (2,6,2) 3 D L 2 E (0, 4, 4) (0, 2, y)