Is the following statement correct, incorrect or imprecise? . Give a correct version of the statement if
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Question:
Is the following statement correct, incorrect or imprecise? . Give a correct version of the statement if possible.
a) A backwards-induction solution to a finite game of perfect information where no two terminal nodes prescribe the same payoff is:
1. Sequentially rational,
2. The subgame-perfect Nash equilibrium in the game,
3. The unique Nash equilibrium in the game."
b)Game in normal form consists the following items:
1. A set of players.
2. A set of actions for each player.
3. A game tree with a precedence relaion between nodes.
4. A set of payoff func!ons for each player that gives the payoff value for any combina!on of the players' chosen actions."
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