Problem #5: Convert extensive-form to strategic-form, find Nash equilibria and subgame- perfect Nash equilibria (12pts)
Posted: Wed Apr 27, 2022 11:46 am
- Problem 5 Convert Extensive Form To Strategic Form Find Nash Equilibria And Subgame Perfect Nash Equilibria 12pts 1 (37.49 KiB) Viewed 40 times
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Problem #5: Convert extensive-form to strategic-form, find Nash equilibria and subgame- perfect Nash equilibria (12pts) Consider the following extensive-form game: Veto Y Don't Veto 2 N 2 1.1 2,0 1,1 0,2 2.0 In this game, Players 1 and 2 are deciding on a course of action, which may be X, Y, or Z. Player 2 is the one who actually makes the choice, but first, Player 1 may choose to veto Y, which is the option Player 1 prefers the least. a) List all the strategies available to Player 1, and all the strategies available to Player 2. (Hint: Notice that Player 2 has two nodes...) b) Using your answer to a), create a game table to represent this extensive-form game in strategic form. This game table should include payoffs.
c) Find all of the pure-strategy Nash equilibria of this game using any method.
d) Identify which of the Nash equilibria you found in c) are subgame-perfect Nash equilibria. Another copy of the game tree is provided here for your benefit. Veto Y Don't Veto 2 2 N 1.1 2,0 1,1 0,2 2.0