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Problem: Charlie and Diego (both risk-neutral expected-money maximizers) and two $100 notes on a park bench. If they can agree how to divide the money then they will keep it, otherwise they will hand it in to lost property. Assume the notes cannot be split. There are only three possible ways to divide them: ($200, $0), ($100,$100) and ($0,$200). Charlie begins by proposing a division which can be accepted or rejected by Diego. If Diego rejects you both get nothing.
Required:
Question 1: Draw the game tree.
Question 2: Draw the payoff matrix for this game if Charles decides a split and Diego simultaneously chooses whether to accept or reject, identifying pure strategies as in part (a)
(c) Identify all of the pure-strategy Nash equilibria in this game.
(d) Identify all of the subgame-perfect pure-strategy Nash equilibria in this game.
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