Question:
Two people, 1 and 2, are engaged in a joint project. Person πβ{1,2} puts in effort π₯π (0β€ π₯π β€ 1), and incurs cost πΆπ (π₯π ) = π₯π . The monetary outcome of the project is 4π₯1π₯2 which is split equally between them. Considering the situation as a strategic game, the set of all Nash Equilibria in pure strategies is
Two people, 1 and 2, are engaged in a joint project. Person πβ{1,2} puts in effort π₯π (0β€ π₯π β€ 1), and incurs cost πΆπ (π₯π ) = π₯π . The monetary outcome of the project is 4π₯1π₯2 which is split equally between them. Considering the situation as a strategic game, the set of all Nash Equilibria in pure strategies is
Updated On: Oct 1, 2024
- {(0, 0), (1, 1)}
- \(\{{(0,0),(\frac{1}{4},\frac{1}{4}),(\frac{3}{4},\frac{3}{4}),(1,1)\}}\)
- \(\{(0,0),(\frac{1}{2},\frac{1}{2}),(1,1)\}\)
- a null set
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The Correct Option is C
Solution and Explanation
The correct option is (C): \(\{(0,0),(\frac{1}{2},\frac{1}{2}),(1,1)\}\)
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