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Consider a country with 5 citizens, and let be the value that citizen i attaches to protesting. Suppose v1= 4 v2= 3 v3= 2 v4=1 v5=0. Assume that the cost of protesting is the same for all citizens and is , where m is the number of protestors (so that, other things equal, the more protesters, the less costly it is to protest). The payoff to citizen i from protesting is vi - 5/m, while the payoff from not protesting is 0. Find all Nash equilibria.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91718769

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