Problem with probability tree

Question

I am trying to make in LaTeX this probability tree:

I tried using the tikz package but I keep having some issues. This is the best I got so far (link: https://www.writelatex.com/855538qcgkps#/1917915/):

    \documentclass{article}

    \usepackage{tikz}
    \usetikzlibrary{trees}

    \begin{document}
    \pagestyle{empty}

    \tikzstyle{level 1}=[level distance=3cm, sibling distance=3cm]
    \tikzstyle{level 2}=[level distance=3.5cm, sibling distance=2cm]

    \tikzstyle{bag} = [circle, minimum width=10pt, inner sep=2pt]
    \tikzstyle{end} = [circle, minimum width=3pt, fill, inner sep=0pt]

    \begin{tikzpicture}[grow=right, sloped]

    \node[bag]{}
    child {
            node[bag] {O}        
                child {
                    node[end, label=right:{O}] {}
                    edge from parent
                    node[above] {}
                    node[below]  {$1-\lambda$}
                    child {
                    node[end, label=right: {O ...}] {}
                    edge from parent
                    node[above] {}
                    node[below]  {$1-\lambda$}
                }
                child {
                    node[end, label=right: {S ...}] {}
                    edge from parent
                    node[above] {$\lambda$}
                    node[below]  {}
                }
                }
                child {
                    node[end, label=right: {S}] {}
                    edge from parent
                    node[above] {$\lambda$}
                    node[below]  {}
                }
                edge from parent 
                node[above] {}
                node[below]  {$1-\lambda$}
        }
        child {
            node[bag] {S}        
            child {
                 edge from parent
                    node[above] {1}
                    node[below]  {}
                    node[bag] {O'}   
                            child {
                                    edge from parent
                                    node[above] {$1$}
                                    node[below] {$$}
                                    edge from parent
                    }
                    }
            edge from parent         
                node[above] {$\lambda$}
                node[below]  {}
        };


    \end{tikzpicture}
    \end{document}

As you can see, they are quite different, but I can't seem to be able to progress any further, would you be able to help me? I can't seem to realize what are the errors.

Best.

Answer 1

I'd suggest you to use the powerful forest package (its built upon PGF/TikZ):

\documentclass{article}
\usepackage{amsmath}
\usepackage{forest}

\tikzset{
  dot/.style={circle,draw,inner sep=1.2,fill=black},
}

\newcommand\Labeli{%
  node[below left,midway,xshift=3pt,font=\small]{$(1-\lambda)$}
  node[above right,midway,xshift=-3pt,font=\small]{$0$}%
}
\newcommand\Labelii{%
  node[above left,midway,xshift=3pt,font=\small]{$S$}
  node[below right,midway,xshift=-3pt,font=\small]{$(\lambda)$}%
}
\newcommand\Labeliii{%
  node[above,midway,font=\small]{$0'$}
  node[below,midway,font=\small]{$(1)$}%
}

\begin{document}

\begin{forest}
[ ,name=a,for tree={s sep=60pt,l sep=2cm,dot,grow=0},
  [ ,name=b,edge label={\Labeli}
    [ ,name=c,edge label={\Labeli}
      [ ,name=d,edge label={\Labeli} ]
      [ ,name=e,edge label={\Labelii} ] 
    ]
    [ ,edge label={\Labelii}
      [ ,name=f,edge label={\Labeliii} ]
    ]   
  ]
  [ ,edge label={\Labelii}
    [ ,edge label={\Labeliii}
      [ ,name=g,edge label={\Labeliii} ]
    ]
  ]
]
\foreach \Nodo in {d,e,f,g}
  \node[anchor=west,xshift=3pt] at (\Nodo) {$\cdots$};
\node[yshift=-1cm,name= tiii,font=\small] at (d) {$t+3$};
\node[name= tii,font=\small] at (c|-tiii) {$t+2$};
\node[name= ti,font=\small] at (b|-tiii) {$t+1$};
\node[name= t,font=\small] at (a|-tiii) {$t$};
\end{forest}

\end{document}