Problem 1. List all the necessary components for a static game in normal form. After that list all the components of a dynamic game in extended form. Explain the differences and why they are necessarily present. Basically, a game in Normal form has 3 components, while a game in extended has 7 listed in video lectures. Your goal is to identify how are dynamic games different and which differences necessitate the additional components.

Operations Research : Applications and Algorithms
4th Edition
ISBN:9780534380588
Author:Wayne L. Winston
Publisher:Wayne L. Winston
Chapter19: Probabilistic Dynamic Programming
Section19.3: How To Maximize The Probability Of A Favorable Event Occurring
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Problem 1. List all the necessary components for a static game in normal form. After that list all the components of a dynamic game in extended form. Explain the differences and why they are necessarily present. Basically, a game in Normal form has 3 components, while a game in extended has 7 listed in video lectures. Your goal is to identify how are dynamic games different and which differences necessitate the additional components.

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