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1)In sequential game, please explain the difference between the first mover’s advantage and the second mover’s advantage

Economics

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1)In sequential game, please explain the difference between the first mover’s advantage and the second mover’s advantage. Please give the examples of both cases.

2)Anne has a job that requires her to travel three out of every four weeks. She has an annual travel budget and can travel by either plane or train. The airline on which she typically flies has a frequent-flyer program that reduces the cost of her tickets according to the number of miles she has flown in a given year. When she reaches 25,000 miles, the airline will reduce the price of the ticket by 25% for the remainder of the year. When she reaches 50,000 miles, the airline will reduce the price by 50% for the remainder of the year. Graph Anne’s budget line, with train miles on the vertical axis and plane miles on the horizontal axis. Remember that the slope of the budget line is the relative price of the two goods.