1 chooses at random one card (Prob. 1/2 to each card). He looks at the card but does not
show it to Player 2. Then Player 1 decides whether to pay player 2 $10 and to terminate
the game or to continue to play. If he continues then Player 2 decides whether to continue
to play or to pay Player 1 $10 and to terminate the game. If Player 2 also continues then
the card is shown to Player 2. If the card is Low, Player 1 pays 2 $50. If it is High, Player 2
pays $40 to player 1.
(1) Describe the game by a tree.
(2) Write it in a strategic form.
(3) Find the optimal strategies of the players.
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