Chapter 3
Sequentialmove games
: players take turns moving, know the choices of other player
Simultaneousmove games
: players move simultaneously, don’t know each other’s choices
Extensive game representation:
represented by a game tree
o
Nodes:
point from which branches emerge, or where a branch terminates, in a decision or
game tree
Starting nodes:
where game starts
Decision node:
player makes an action or move
Terminal/end node:
where the game/branch ends
o
Branches
: correspond to actions by players
o
Payoffs
: correspond to each end node
Rollback equilibrium:
the strategies for each player that remain after rollback analysis has
been used
Normal form representation:
(also known as strategic form or matrix form) grid showing
strategies and choices
Symmetric game:
when players have same strategies available; same payoff when choices
are the same; payoffs switch when choices switch
Prisoner’s Dilemma:
a game where each player has 2 strategies, say Cooperate and Defect,
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 Spring '08
 Wang
 Game Theory, strictly dominant strategy, choices Symmetric game, node Rollback equilibrium, game Weakly Dominant, NE Cournot Model

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