Explain the essential difference between games in which moves are simultaneous and those in which moves are sequential.
What will be an ideal response?
ANSWER
In a simultaneous-move game, each player has to decide what the other player’s strategy will be and then act based on that strategy. Thus, one player cannot manipulate the other player by picking a particular strategy that might alter the other player’s behavior. In contrast, in a sequential-move game, the player who gets to move first can pick a strategy that forces the other player’s hand, so to speak. However, for the first mover’s strategy to be successful, the first mover must be able to make a credible commitment to the strategy.
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