Week 5 Flashcards
1
Q
what is an initial node?
A
the point at which the first action in the game occurs
2
Q
what is a terminal node?
A
last node in the path
3
Q
what is the subgame perfect NE?
A
the equilibrium when using the rollback method (use the numbers to describe it)
4
Q
what is the actual path of play?
A
actual moves on the branches of each player in sequence of the SPNE
5
Q
if there is a game tree with an information set?
A
- draw a dotted line between nodes
- usually for simultaneous move games
- player to the right of info set can only play Option A or B (no AB and BA, only AA and BB) as they don’t know what P1 is playing
6
Q
solving a game with an information set?
A
treat the information set as a game table and use the NE of that as the sole payoff for that move of player 1, then solve for SPNE with backward induction
7
Q
if asked to use strategic form?
A
game tree
8
Q
if asked to use extensive form?
A
game table
