Introduction The purpose of this lecture is to help you familiarize with the workings of sequential equi- librium and \sequential equilibrium lite, i.e. perfect Bayesian equilibrium. The main focus is the \reputation\ result of Kreps and Wilson(1982). You should refer to OR for details and definitions: I am following the textbook quite closely. of the game in which an incumbent faces a sequence of K (potential) entrants. It is clear that, in the subgame in which the last entrant gets a chance to play, the incumbent will
Information and the Manager e Data raw facts such as the number of customers Information: data arranged in a meaningful fashion Good information possesses these attributes o Information Quality: measures information accuracy and reliabilit
text B. detailed study of the text 1. on the move: moving from place to place e.g. It's hard to contact her---she's al ways on the move The Johnsons are on the move from the city to the country