combination of sequential and simultanous game, Game Theory

To give Mom a day of rest, Dad Plans to take his two children, Bart and Cassie, on an outing on Sunday.Bart prefers to go to the amusement park (A), Whereas Cassie prefers to go to the science museum (s). Each child gets 3 units of utility from his/ her more preferred activity, and only 2 units of utility from his/her less preferred activity. Dad gets 2 units of utility for either of the two activities. to Choose their activity, Dad plans first to ask Bart for his preference, then to ask Cassie after she hears Bart''s choice. Each child can choose either the amusement park (A) or the science museum (s). If both children choose the same activity, then that is what they will all do. if the children choose diffeent activities, Dad will make a tie-breaking decision. As the parent, Dad has an additional option: he can choose the amusement park. the science museum or his personal favorite, the mountain hike (M). Bart and cassie each get 1 unit of utility from the mountain hike, and Dad gets 3 units of utility form the mountain hike. Because Dad wants his children to cooperte with one another, he gets 2 extra units of utility if the children choose the same activity (no matter which one of the two it is).
Draw the game tree, with payoffs, for this three- person game.
Posted Date: 3/7/2013 12:01:32 PM | Location : Bangladesh







Related Discussions:- combination of sequential and simultanous game, Assignment Help, Ask Question on combination of sequential and simultanous game, Get Answer, Expert's Help, combination of sequential and simultanous game Discussions

Write discussion on combination of sequential and simultanous game
Your posts are moderated
Related Questions
Please let me know if you can assist with the following assignment immediately. http://www.viewdocsonline.com/document/vkz2u6

Ronaldo (Brazil) kicks a penalty against Casillas (Spain) in the 2006 World Cup nal. Sup- pose that Ronaldo can kick the ball to Casillas' upper left (UL), lower left (LL), upper r

Ordinal payoffs are numbers representing the outcomes of a game where the worth of the numbers isn't vital, however solely the ordering of numbers. for instance, when solving for a

Ship, Captain and Crew (sometimes called Ship, Captain and Mate) was a popular bar game played for drinks with five dice and throwing cup. Each player gets three throws. He has to

A type of trigger strategy sometimes applied to the repeated Prisoner's Dilemma during which a player responds in one amount with identical action her opponent utilized in the last

A game is one among complete data if all factors of the sport are common information. Specifically, every player is awake to all different players, the timing of the sport, and als

A set of colluding bidders. Ring participants agree to rig bids by agreeing not to bid against each other, either by avoiding the auction or by placing phony (phantom) bids.

Players 1 and 2 are bargaining over how to split one dollar. Both players simultaneously name shares they would like to keep s 1 and s 2 . Furthermore, players' choices have to be

Experimental economics is bothered with utilizing laboratory experiments to realize understanding of how cognition, memory, and heuristics have an effect on behavior of individuals

Nineteenth century French economist attributed with the introduction of the theory of profit maximizing producers. In his masterpiece, The Recherches, published in 1838, Cournot pr