Game Theory, Microeconomics

Assignment Help:
Three People choose whether to contribute a fixed amount toward the provision of a public good. This good is provided if and only if at least two of them contribute. If it is not provided, contributions are not funded. Each person ranks outcomes from best to worst as followed:
(i) an outcome in which the good is provided and she does not contribute. (3)
(ii) any outcome in which the good is provided and she contributes. (2)
(iii) Any outcome in which the good is not provided and she does not contributes. (0)
(iv) Any outcome in which the good is not provided and she contributes. (-1)
Formulate this situation as a strategic game. represent the game in the form of the payoff matrices and find any and all Nash Equilibria. Show your logic

Related Discussions:- Game Theory

Hello, using the indifference curve approach explain why the demand curve s...

using the indifference curve approach explain why the demand curve slope downwards from left to right...... is there any exceptions?

International Buffer Stock Agreements, #question about International Buffer...

#question about International Buffer Stock Agreements, define International Buffer Stock Agreements with briefly. International Buffer Stock Agreements seek to stablise the commod

Fit a simple linear regression model to the data, 1. Refer to the data in t...

1. Refer to the data in the file "asm2Q1.xls" on the annual number of fatalities (FATALS, y ) from gas and dust explosion in coal mines for the years 1915 to 1978 and the number o

Nash equilibrium, Define Nash equilibrium and explain with the help of the ...

Define Nash equilibrium and explain with the help of the game ''prisoner''s dilemma''.

Transactions demand for money, Transactions demand for money: Transact...

Transactions demand for money: Transactions demand for money represents cash balances held by economic agents in order to carry outordinary everyday transactions.For example,

Slope of an iso-quant, Slope of an Iso-quant: Since along an iso-quant...

Slope of an Iso-quant: Since along an iso-quant the level of output remains the same, if θL units of θL are substituted for K units of K, the increase in output due to θ L

Cost funtion, pls i want to estimate a cost function for the data i coollec...

pls i want to estimate a cost function for the data i coollected from a research on cassava production .i have the cost for each input and output but do not how to go abo0ut it.

Show the impact on price elasticity of demand, Q. Food purchases are relati...

Q. Food purchases are relatively price inelastic since food is a necessity. If food is so required for life, how will we explain the heavy advertising of food items at the

Utility and constrained optimization , Suppose the price of books is $15, t...

Suppose the price of books is $15, the price of movies is $5, and your income is $75. Assuming you have a desire to reach constrained optimization, how many movies will you buy? Ho

Economy, What is the impact of microeconomics on economy?

What is the impact of microeconomics on economy?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd