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Sequential Move Games
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Flashcards
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Credible Threat
A strategy that a player will choose that is in their best interest, influencing another player's actions by changing their expectations.
Extensive Form Representation
A way to depict a game that specifies the order of players' moves.
Subgame Perfect Equilibrium
A refinement of Nash Equilibrium applicable to extensive-form games where players' strategies constitute a Nash Equilibrium in every subgame.
Strategic Form Representation
A simplified representation showing players, strategies, and payoffs.
Perfect Information
A game scenario where all players are fully informed about the actions previously taken.
First-mover advantage
The strategic gain obtained by a player by acting before their opponents in a sequential-move game.
Backward Induction
A method of solving an extensive-form game by starting at the final nodes and working backwards.
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