Game Theory.net
This is an applet from a site about Game Theory where you can create your own sequential games and game trees. Since this is an internet based application, there are some restrictions: only four players can be included and up to 14 periods. This should be enough for simple educational examples. The game tree can be easily adapted by dragging the different nodes across the screen. New nodes can be added and others can be erased.
In order to solve the game tree, you need to take four steps:
1. Pick a prototype game tree
2. Customize the tree to look like your game
3. Add payoffs
4. Solve the game tree.
Next to this applet, there is another applet which can be found on gametheory.net. This applet can be used to solve common simultaneous games or make your own. You can add up to four strategies for each player (which is limited to two). After entering the payoffs, the applet will solve the problem giving you the Nash equilibria.
Source: http://www.gametheory.net
Vecon Lab: Centipede Game
The following software tool can be found on the site of
University of Virginia. It sets up a centipede game which involves two players.
Both of them make a decision in alternating order. After each decision the
actors can either choose to continue or to stop. The game keeps going until one
player decides to stop after which the final payoff is determined. The actor who decides to stop first earns the
most money, however payoffs typically increase with successive stages.
Source: http://veconlab.econ.virginia.edu/cpg/cpg.php
Vecon Lab: Price Competition Market
This software application sets up a ‘Bertrand Market’ in which market actors only compete each other using the price element. You can either choose to produce a homogeneous product or a heteregeneous product. The quantity of a producer is negatively dependent on the sellers’ own price and increases of the other sellers’ price. This application is also developed by the University of Virginia.
Source: http://veconlab.econ.virginia.edu/br/br.php
Gambit
Gambit is an open-source software which is free to use and downloadable on the internet. It can also be accessed over the internet as well. To make it more accessible it is portable across platforms: Linux, FreeBSD, MacOS X and Windows 98 (and up). It can be used for construction and analysis of finite extensive and strategic games.
Gambit provides applications to compute and explore Nash equilibria, compute quantal response equilibria, compute reduced strategic games, and so on. On their site there are different sample games that can be found.
Source: http://gambit.sourceforge.net/index.html
