Consider the game between two players

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Consider the following game between two players. It begins when you flip a coin, notes whether it comes up head or tail. Your opponent (let’s say Player 2) can’t see the result at this point. You may have two options; (1) pass and pay $5 to player 2 or (2) bet. If you pass the game is terminated. However, if you bet, the game continues, in which case player 2 may then either (1) pass and thereby pay $5 to player 1 or (2) call. If player 2 calls, you show the coin to the player 2; if it came up heads, player 2 pays $10 to you; if it came up tails, player 2 receives $10 from you. 3 a) Discuss the possible strategies for each player. 3 b) Draw a game tree for this game. 3 c) Develop the payoff table for this game.

Reference no: EM131146278

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