Strategy3Handout - 9/10/2008 Homework Due Friday 4PM Hand...

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1 Homework Due Friday 4PM ± Hand homework into your GSI during discussion section OR ± Turn in homework to the specially marked box outside Lorch Hall 109 by 4PM Extensive Form Games - Strategies ± A strategy is a complete plan of action ± Tells a player what to do at each node in the game tree he is called upon to make a decision Example – George and Hiromi GEORGE R (2,0) 1 3 HIROMI T S U W V (3,1) 2 GEORGE (0,0) (1,2) Example – George and Hiromi ± Strategies for Hiromi ± T at node 2, or U at node 2 ± Strategies for George ± Specify what happens at node 1 and node 3 ± S at node 1 and V at node 3 ± S at node 1 and W at node 3 ± R at node 1 and V at node 3 ± R at node 1 and W at node 3 Example – George and Hiromi ± Hiromi’s Strategy Set: {T, U} ± George’s Strategy Set: {RV, RW, SV, SW} Extensive Form Games - Strategies ± A strategy profile (RV, T) is a strategy profile for the game George and Hiromi. It determines a path through the tree to a terminal node.
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This note was uploaded on 04/14/2010 for the course ECON 398 taught by Professor Emre during the Spring '07 term at University of Michigan.

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Strategy3Handout - 9/10/2008 Homework Due Friday 4PM Hand...

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