Dynamic games

Question 1

Ingrdients of the extensive form.

Answer 1

1. Set of players
2. Their payoff functions
3. Order of their move turns
4. Actions allowed to players when they can move
5. Information they have when they can move
6. Probability of random events
7. All of this: common knowledge

Question 2

What are “dummy players” and how they are represented in decision trees?

Question 3

What is the information set of a player i? When it is a singleton?

Question 4

Define the behavioral strategy for an information set hi.