Reference no: EM133082654
Consider the game shown in Figure 2, with the payoffs (a, b, c, d, e, f, g, h, i, j, k, l) = (2, 2, 1, 3, 3, 1, 3, 1, 4, 6, 2, 7).
(a) What is the backwards-induction strategy for each player?
(b) What is the backwards-induction outcome?(c) Two strategies can arguably be considered "equivalent" if they designate the same behavior at all decision nodes that the player will reach with positive probabilitygiven her own previous choices as specified by both of the two strategies. For each player, state which (if any) strategies are equivalent to others.
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What is the backwards-induction strategy
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