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

Consumer and producer surplus, analyse the rise and fall in the price under...

analyse the rise and fall in the price under market equillibrium situation?

The cost of production, crumble corporation produce biscuits. here the rela...

crumble corporation produce biscuits. here the relation between the number of workers and output

Ppf, negative slope on ppf represents what?

negative slope on ppf represents what?

Water resources , Normal 0 false false false EN-IN X-...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Production function curve, different types of production funtion and curve ...

different types of production funtion and curve given by different economist

Capital intensive operations, Where minimum efficient scale is very huge fo...

Where minimum efficient scale is very huge for capital intensive operations, it may be more cost effective to allow one company to spread its fixed costs over a very huge number of

Microeconomics and the market system, Suppose you are a painter, and the pr...

Suppose you are a painter, and the price of a gallon of paint increases from $3.00 a gallon t $3.50 a gallon. Your usage of paint drops from 35 gallons to 20 gallons a month. 1. Co

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