Has the game dominant strategy equilibrium

Assignment Help Business Economics

Reference no: EM13833944

One family of social dilemmas arises where a group of people are involved in some task that depends on the efforts of each of them. The strategy choices are work or shirk. In an effort dilemma, one persons shrinking places the burden of increased effort on the other(s). The payoff if both players work is 10 whereas if one player shrinks the payoff is 2 to the other player who has to do all the work and 14 to the player who has shirked the work. If both players shrink then the payoff to each of them is 5.

(a) Represent this game in normal fashion.

(b) Are there any dominant strategies in this game? If there are then what are they?

(d) What would be the cooperative solution in this game?

Reference no: EM13833944

Questions Cloud

Two investments have the same expected profit : Imagine you have $20000 and you are willing to invest. A safe investment that promises to pay 5% profit after 1 year. A risky investment that has a 20% chance you might loose half of your money. How much do you expect to get paid for a year in the s..

What are the cross-cultural communication issues : What are the cross-cultural communication issues that could result from differences in the social, political, and legal structures and hierarchies between the foreign country and the United States?

Market expansion of home defibrillators : What are social, political, and legal structures and hierarchies of Taiwan that are relevant to market expansion of Home defibrillators? How do they compare to those of the United States?

Net foreign investment income-russias current account equals : Russia imports 5 billion Rubles of goods and exports 7 billion rubles of goods. At the same time, Russia imports 4 billion rubles of services, and Russia makes a 2 billion Ruble net unilateral transfer to Albania. Net Foreign Investment Income. Russi..

Has the game dominant strategy equilibrium : One family of social dilemmas arises where a group of people are involved in some task that depends on the efforts of each of them. The strategy choices are work or shirk. In an effort dilemma, one persons shrinking places the burden of increased eff..

By how much did real gdp increase : Nominal GDP increased from roughly $10.3 trillion in 2001 to $14.4 trillion in 2008. In the same period prices rose on average by roughly 19.78 percent. By how much did real GDP increase?

Debt limit law according to which government debt : Suppose the US has a Debt Limit Law according to which government debt cannot be higher than $120 million. What are the options for Obama?

Determine the kinds of change-management skills : Anticipate how you expect these trends to affect your selected organization. Determine the kinds of change-management skills and tools that may be required to address the trends

Cost minimization for level of production is equivalent : Cost minimization for a given level of production is equivalent or identical to the concept of product maximization for a given cost level.

User Account

All Pages