Business, 30.10.2019 23:31, natalie0908

Consider a game in which there are 3 people. each player can either participate or not participate in a revolution. if at least 2 people participate, the revolution succeeds. if the revolution succeeds, each player gets a benefit of b. if the revolution fails, each player gets a benefit of 0.

each player who participates bears a cost c < b, whether or not the revolution succeeds.

(a) write down each player’s best response correspondence.

(b) is it a nash equilibrium for no players to participate? why or why not?

(c) is there a nash equilibrium in which only one player participates? why or why not?

(d) is there a nash equilibrium in which only two players participate? why or why not?

(e) is it a nash equilibrium for all three players to participate? why or why not?

Answers: 2

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Consider a game in which there are 3 people. each player can either participate or not participate i...