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3. Two legislators select a policy that affects them both, by alternately vetoing policies until one remains. First legislator 1 vetoes a policy. If more
3. Two legislators select a policy that affects them both, by alternately vetoing policies until one remains. First legislator 1 vetoes a policy. If more than one policy remains then legislator 2 vetoes a policy. If more than one policy still remains, legislator 1 then vetoes another policy The process continues until a single policy remains. Suppose that there are three possible policies only, X, Y, and Z. Legislator 1 prefers X to Y to Z, and legislator 2 prefers Z to Y to X. a. Model this situation as an extensive game by drawing the game tree. Identify the SPE. Which policy is selected? (12 pts) b. Give an example of a strategy for legislator 2 and explain what it means. (5 pts) S. Strolvalid your answer thancap.ne are a. if now legislator 1 prefers Y to Z to X? (8 pts)
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Given Three policies X Y and Z Legislator 1s preferences X Y Z Legislator 2s preferences Z Y X The process involves alternating vetoes until one polic...
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