Identify the definition for each term from the following list. 1. Payoff-matrix format. 2. Game-tree format. 3. A junction on a game tree. 4. One of the final outcomes of a game tree. 5. Divides the overall game tree into nested subgames before working backward from right to left. 6. A mini-game within the overall game. 7. The process of backward induction that relies on both firms having perfect information about the decisions made in each subgame.

1 answer
Question:

Identify the definition for each term from the following list. 1. Payoff-matrix format. 2. Game-tree format. 3. A junction on a game tree. 4. One of the final outcomes of a game tree. 5. Divides the overall game tree into nested subgames before working backward from right to left. 6. A mini-game within the overall game. 7. The process of backward induction that relies on both firms having perfect information about the decisions made in each subgame.

Answers

Answer:1. Payoff matrix : Strategic form2. Game tree format : Extensive form3. A junction on a game tree : Decision nodes4. One of the final outcomes of a game tree : Terminal nodes5. Divides the overall game tree into nested subgames before working backward from right to left : Backward induction6. A mini-game within the overall game : Subgame7. The process of backward induction that relies on both firms having perfect information about the decisions made in each subgame : Nash equilibrium.Explanation:Payoff matrix is the technique for decision making where goals are dependent on interaction with others. Nash equilibrium is a strategy in which every firm tries to choose best possible outcome keeping in view the decisions of other firms.

Similar Solved Questions

1 answer

A profession sets __________ for entry into the profession.

A profession sets __________ for entry into the profession....
2 answers

The Latin root terra means "land." Which word most likely means "an area of land"?

The Latin root terra means "land." Which word most likely means "an area of land"?...
1 answer

9/10 divided by 3/5 please helppp

9/10 divided by 3/5 please helppp...
2 answers

My brother is 5 years older then me. My sister is 3 Years younger than me. Three years ago how much younger was my sister?

My brother is 5 years older then me. My sister is 3 Years younger than me. Three years ago how much younger was my sister?...
2 answers

1)how is ice made? 2)what materials does it use? 3)how is it put together

1)how is ice made? 2)what materials does it use? 3)how is it put together...
1 answer

What is all about programming interactions in the real world.

what is all about programming interactions in the real world....
2 answers

Dave's Mirror Company produces $1,250,000 worth of mirrors this year. They expect to sell $1,000,000 worth of mirrors over the year. The company purchases $300,000 of new equipment during the year. Sales for the year turn out to be $900,000. Actual investment by Dave's Mirror Company equals _ and planned investment equals ___.

Dave's Mirror Company produces $1,250,000 worth of mirrors this year. They expect to sell $1,000,000 worth of mirrors over the year. The company purchases $300,000 of new equipment during the year. Sales for the year turn out to be $900,000. Actual investment by Dave's Mirror Company equals _ and pl...
2 answers

Please help meeeeeeeeeeeeeeee

Please help meeeeeeeeeeeeeeee...
1 answer

A 2-kg objects is moving horizontally with a speed of 4 m./s. how much net force is required to keep the object moving with the same speed and in the same directions

a 2-kg objects is moving horizontally with a speed of 4 m./s. how much net force is required to keep the object moving with the same speed and in the same directions...
1 answer

What is an equation of the line in point-slope form? m= 1 over 2 and a point is (6,-10)​

What is an equation of the line in point-slope form? m= 1 over 2 and a point is (6,-10)​...
1 answer

Both Galapagos islands and the Island of Nauru are on the equator, but the Galapagos islands are at 90°W where the Island of Nauru is at 166.50°E. How far is it from the Galapagos islands to Nauru traveling over the Pacific ocean along the equator, correct to the nearest km?

Both Galapagos islands and the Island of Nauru are on the equator, but the Galapagos islands are at 90°W where the Island of Nauru is at 166.50°E. How far is it from the Galapagos islands to Nauru traveling over the Pacific ocean along the equator, correct to the nearest km?...
1 answer

Please help me with this problem for history!!

Please help me with this problem for history!!...
1 answer

QUICK DUE SOON Which is greater? 90% of 60 170% of 30 Or are they equal

QUICK DUE SOON Which is greater? 90% of 60 170% of 30 Or are they equal...
1 answer

Which of the following is an example of qualitative data? A) A solution contains copper ions B) A plant has five flowers C) A solar system has nine planets

Which of the following is an example of qualitative data? A) A solution contains copper ions B) A plant has five flowers C) A solar system has nine planets...
1 answer

A student wishes to make the magnetic force exerted by the electromagnet shown below greater. Which procedure step could the student follow to accomplish this goal?

A student wishes to make the magnetic force exerted by the electromagnet shown below greater. Which procedure step could the student follow to accomplish this goal?...
1 answer

Wakanda has vibranium the most precious resource in the marvel universe . How is this similar to Africa’s relationship with Europe ?

Wakanda has vibranium the most precious resource in the marvel universe . How is this similar to Africa’s relationship with Europe ?...
1 answer

What is 8(p+7+2q) simplified

What is 8(p+7+2q) simplified...
1 answer

SHOW YOUR DAMmmmN WORK. SLOPE X INTERCEPT Y INTERCEPT GRAPH EVERYTHING 1) (4,5) (3,4) 2(3,2) (3,2) 3) (3, 1) (5,4) 4) (2,5) (4,2)

SHOW YOUR DAMmmmN WORK. SLOPE X INTERCEPT Y INTERCEPT GRAPH EVERYTHING 1) (4,5) (3,4) 2(3,2) (3,2) 3) (3, 1) (5,4) 4) (2,5) (4,2)...

-- 0.011768--