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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

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9547311

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