Question
Represent the following game in extensive form. Three legislators vote on whether they allow themselves a salary raise of $2000 per year. A has to
Represent the following game in extensive form. Three legislators vote on whether they allow themselves a salary raise of $2000 per year. A has to vote first, then B, then C, and all votes are open. The rise will be accepted if voted by at least 2 legislators. If all vote for rise, all legislators will earn 2 payoffs. If only two votes for rising, they will earn 2 but the one who votes for no-raise will earn 3 payoffs since voters observe her decision and award her for not being greedy. If rejected legislators who voted no-rise will earn 1 payoff and the ones who voted rise will earn 0 points.
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