Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 29 Oct 2017 My Price 5.00

Tragedy of the Commons game

Consider the Tragedy of the Commons game from the chapter with two shepherds, A and B, where sA and sB denote the number of sheep each grazes on the common pasture. Assume that the benefit per sheep (in terms of mutton and wool) equal

Assume the (total and marginal) cost of grazing sheep is zero since the common can be freely used.

a. Compute the flock sizes and shepherds’ total benefits in the Nash equilibrium.

b. Draw the best-response-function diagram corresponding to your solution.

c. Suppose A’s benefit per sheep rises to 330 sA sB. Compute the new Nash equilibrium flock sizes. Show the change from the original to the new Nash equilibrium in your best-responsefunction diagram. C

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Oct 2017 05:10 PM My Price 5.00

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