Business, 05.05.2020 05:10, rorob

Anna and Bess are assigned to write a joint paper within a 24-hour period about the Pareto optimal provision of public goods. Let t Subscript Upper A denote the number of hours that Anna contributes to the project and t Subscript Upper B the number of hours that Bess contributes. The numeric grade that Anna and Bess earn is a function, 22ln(t Subscript Upper Aplust Subscript Upper B), of the total number of hours that they contribute to the project. If Anna contributes t Subscript Upper A, then she has (24minust Subscript Upper A) hours in the day for leisure. Anna's utility function is Upper U Subscript Upper Aequals22ln(t Subscript Upper Aplust Subscript Upper B)plusln(24minust Subscript Upper A); and Bess's utility function is Upper U Subscript Upper Bequals22ln(t Subscript Upper Aplust Subscript Upper B)plusln(24minust Subscript Upper B). If they choose the number of hours to contribute simultaneously and independently, what is the Nash equilibrium LOADING... number of hours that each will provide

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Anna and Bess are assigned to write a joint paper within a 24-hour period about the Pareto optimal p...