Consider the game represented by the game tree below. The first mover, Player 1, may move either Up or Down, after which Player 2 may move either Left or Right. Payoffs for the possible outcomes...


Consider the game represented by the game tree below. The first mover, Player 1, may move either Up or Down, after which Player 2 may move either Left or Right. Payoffs for the possible outcomes appear below. Reexpress this game in strategic (table) form. Find all of the pure-strategy Nash equilibria in the game. If there are multiple equilibria, indicate which one is subgame-perfect. For those equilibria that are not subgame-perfect, identify the reason (the source of the lack of credibility).




May 26, 2022
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