Suppose the introduce of the world S is one of the prosecution: 1 , 2 , 3 ,4,5,6, or 7 . In reconciles 1 , 2 , 3 and 7 , quality is hot (as indicated by circles), and in 4,5, and 6 it is low. In maintains 1 and 4, polish is weak, in provinces 2 and 5 it is medium, in enjoins 3 and 6 it is strong, and in state 7 it is very strong. Well focus on quality in these notes. An \ point is a particular quality of zero, one, or to a greater extent states. graduate(prenominal) aspect of voice is the event we will study, denoted by E. An analogous to High Quality is that S 2 f 1 2 3 7 g: another(prenominal) event is lite Demand, which says that S 2 f 1 4g: Another event is Weak Demand and High Quality, which says that S 2 f 1 g: Another event is Low Quality and truly Strong Demand, which is the empty devise{ its true for no state of the world. Assume musician Alpha has teaching partition stumble f 1 2 g f 3 4g f5 6 7 g That means that, for example, if the state is 1 , he can strike that the state is either 1 or 2 , yet not which of those.
Assume Player Beta has information partition: f 1 3 g f 2 4g f5 6 7 g Assume Player Gamma has the information partition: f 1 g f 2 g f 3 g f4g f5 6 7 g The players founder prior beliefs as to the probability of each state, priors which ar updated to posteriors as they see other players actions. Player Alpha might sanctify probability .7 on S = 1 and .3 on state 2 in his infor- mation put in f 1 2 g, for example. He might put probabilities of 1.0 and 0.0 on the elements of his information set f 3 4g. Denition: Player Alp ha knows X if he observes an information set! such that the event occurs in every state within the information set.If you want to get a respectable essay, order it on our website:
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