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In economics there is a very important topic named as Extensive games with imperfect information. You will definitely get to study this concept if you have opted economics as one of your main subjects. This is an intricate concept and it will need in depth understanding from your side. If you are lacking clarity in this topic then you must opt for Extensive games with imperfect information homework helpas early as possible.
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Highlights on the topic – Extensive games with imperfect information
An extensive game is a specified type of game that is studied under the game theory in economics. Such games have features like sequential knowledge of the possible moves by the player, the choices that are made at crucial stages, the imperfect information that players have about each other, the payoffs for the outcomes in the game etc.
In extensive games there can be either perfect information or imperfect information. When we specifically talk about the extensive games with imperfect information then a player faces such circumstances that are not similar with the presumed equilibrium that is currently being played. The player may be therefore forced to draw conclusions that will be based on the past behavior of the other players.
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The reasons for imperfect information in extensive games
There can be various reasons for imperfect information in extensive games like the player does not know about the opponent’s complete move, there can be information asymmetry etc. Thus you can say that extensive games with imperfect information may generally have just a few sub-games and that sometimes may be even restricted to one only.
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