Get the free Extensive Form Games: Backward Induction and Imperfect Information Games - cs ubc

CMPT120: Introduction to Computing Science and Programming I Instructor: Hassan Kohlrabi Summer 2012 Assignment 1 Due: Wednesday, June 13th This assignment is to be done individually. -----------------------------------------------------------------------------------------------------------The

How to fill out extensive form games backward

Point by point steps on how to fill out extensive form games backward:

1. Begin by understanding the concept of extensive form games backward. Extensive form games backward refer to a type of game theory analysis in which participants make decisions sequentially, with each decision affecting subsequent choices. The analysis starts from the end of the game and works backward to determine the optimal strategies.
2. Familiarize yourself with the game's rules and objectives. Before filling out the extensive form, ensure that you understand the game you are analyzing. This includes understanding the players involved, their strategies, and the possible outcomes.
3. Identify the final outcomes and work backward. Start from the last stage of the game and determine the possible outcomes and strategies that lead to that outcome. Consider all possible decisions at each stage and their consequences.
4. Analyze each stage of the game. Work your way backward from the end stage to the initial stage of the game. Assess the decisions and actions available to the players at each stage, understanding their payoffs and potential outcomes.
5. Take into account the information available to the players at each stage. Analyze how players may gather or alter information as the game progresses. Consider the impact of incomplete or imperfect information on the decision-making process.
6. Consider each player's preferences and goals. Understand the motivations and objectives of the players involved. Analyze how their preferences influence the decisions they make at each stage of the game.
7. Calculate the optimal strategies backward. Determine the optimal strategies for each player by working backward from the end stage. Consider the payoffs, potential outcomes, and preferences of the players to ascertain the best course of action at each stage.
8. Document your analysis in the extensive form. Fill out the extensive form by following the backward analysis you conducted. Clearly indicate the decision points, possible outcomes, and strategies at each stage of the game.

Who needs extensive form games backward?

1. Economists: Extensive form games backward analysis is commonly used in economic research and policy analysis. Economists use this approach to understand strategic decision-making in various economic scenarios.
2. Game theorists: Game theorists, who study decision-making and strategies in interactive situations, often employ extensive form games backward analysis. It helps them analyze complex sequences of decision-making in games and predict optimal strategies.
3. Business professionals: Extensive form game backward analysis can be valuable for business professionals involved in strategic planning, negotiation, and competitive analysis. It helps them to evaluate various decision paths, potential outcomes, and devise effective strategies.

In conclusion, filling out extensive form games backward involves understanding the concept, analyzing each stage of the game, considering player preferences, and determining optimal strategies. It is a valuable tool for economists, game theorists, and business professionals.

For pdfFiller’s FAQs

What is extensive form games backward?

Extensive form games backward is a representation of sequential games in game theory where the players' actions and payoffs are shown in a tree-like structure. It allows for the analysis of decision-making and strategies for multiple players.

Who is required to file extensive form games backward?

There is no formal requirement to file extensive form games backward. It is a theoretical concept used in game theory for modeling and analyzing strategic interactions among players.

How to fill out extensive form games backward?

Extensive form games backward is not a form that needs to be filled out. It is a method of representing and analyzing sequential games in game theory using a tree-like structure.

What is the purpose of extensive form games backward?

The purpose of extensive form games backward is to analyze and understand strategic decision-making in sequential games. It helps in determining optimal strategies, equilibrium outcomes, and predicting behavior of players.

What information must be reported on extensive form games backward?

Extensive form games backward does not require any specific information to be reported. It is a theoretical concept used in game theory, and the information represented in the tree-like structure depends on the specific game being analyzed.

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