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# Game theory: backward induction Watch

1. Hi, how would i answer the following question?

Consider the following 2 player non-cooperative dynamic game, where
players move sequentially in the order Player 1 followed by Player
2. The strategy set for Player 1 is {L;M;R} and the strategy set for
Player 2 is {l; r}
The pay-offs in the order (Player 1; Player 2) are given as follows:
(L; l) : : : (6; 3)
(L; r) : : : (2; 4)
(M; l) : : : (3; 7)
(M; r) : : : (5; 2)
(R; l) : : : (4; 5)
(R; r) : : : (7; 2)
Find the Backward Induction outcome and pay-offs and the Nash Equlibria.

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Updated: December 13, 2010
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