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Consider the game given in the adjoining (Figure 1). Player 1's actions in the initial node ? are X and E. At the node c,
Consider the game given in the adjoining (Figure 1). Player 1's actions in the initial node ? are X and E. At the node c, player 1 has two actions l and r. Player 2's actions at the node a are l1 and r1. Player 2's available actions at the node b are l2 and r2. The payoffs are given in the terminal nodes. The first entry in any payoff vector corresponds to the payoff to player 1, and the second entry corresponds to the payoff to player 2. Using backward induction find an equilibrium in the game.
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