14.3 Sequential Dynamic Games 
-The above figure shows the payoff to two gasoline stations,A and B,deciding to operate in an isolated town.Suppose a $60 fee is required to enter the market.If firm A chooses its strategy first,then
Definitions:
Semi-Annually
Occurring or calculated twice a year, often used in the context of interest payments or other financial assessments.
Face Value
The nominal or stated value of a bond, share of stock, or other financial instruments, typically used as a reference for calculating interest, dividends, or premiums.
Coupon Bond
A debt security that pays the holder a fixed interest rate (coupon) over the bond's life, with the principal amount repaid at maturity.
Market Interest Rates
The prevailing rate of interest available in the marketplace for securities, loans, and deposits, determined by supply and demand dynamics.
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