The following code should produce a three step probability tree, but fail to compile. Does anybody have an idea why it doesn't work?
\documentclass{article}
\usepackage[utf8]{inputenc}
\usepackage[T1]{fontenc}
\usepackage{tikz}
\usetikzlibrary{trees}
\begin{document}
\pagestyle{empty}
\begin{tikzpicture}[scale=1.5,font=\footnotesize]
% Specify spacing for each level of the tree
\tikzstyle{level 1}=[level distance=12mm,sibling distance=43mm]
\tikzstyle{level 2}=[level distance=15mm,sibling distance=20mm]
\tikzstyle{level 3}=[level distance=15mm,sibling distance=10mm]
\tikzset{
solid node/.style={circle,draw,inner sep=1,fill=black},
}
% The Tree
\node(0)[solid node]{}
child{node(1)[solid node,label=left:{$V=1$}]{}
child{node[solid node,label=left:{$s_1=H$}]{}
child{node[solid node,label=below:{$s_2=U$}]{} edge from parent node [left]{$q$}}
child{node[solid node,label=below:{$s_2=D$}]{} edge from parent node [right]{$1-q$}}
edge from parent node [left]{$p$}
}
child{node[solid node,label=right:{$s_1=H$}]{}
child{node[solid node,label=below:{$s_2=U$}]{} edge from parent node [left]{$q$}}
child{ node[solid node,label=below:{$s_2=D$}]{} edge from parent node [right]{$1-q$}}
edge from parent node [right]{$1-p$}
}
edge from parent node [left, yshift=3]{$\frac{1}{2}$}
}
child{node(2)[solid node,label=right:{$V=-1$}]{}
child{node[solid node,label=left:{$s_1=L$}]{}
child{node[solid node,label=below:{$s_2=U$}]{} edge from parent node [left]{$1-q$}}
child{ node[solid node,label=below:{$s_2=D$}]{} edge from parent node [right]{$q$}}
edge from parent node [left]{$p$}
}
child{node[solid node,label=right:{$s_1=L$}]{}
child{node[solid node,label=below:{$s_2=U$}]{} edge from parent node [left]{$1-q$}}
child{ node[solid node,label=below:{$s_2=D$}]{} edge from parent node [right]{$q$}}
edge from parent node [right]{$1-p$}
}
edge from parent node [right, yshift=3]{$\frac{1}{2}$}
};
\end{tikzpicture}
\end{document}
\tikzstyle
is deprecated, but looks like a good first question ;). – cfr Jun 11 '16 at 21:01