3-Player Public Good Contribution: Consider a game in which three players must independently and simultaneously choose...

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3-Player Public Good Contribution: Consider a game in which three players must independently and simultaneously choose whether to contribute to the provision of a public good. The good is provided IF AND ONLY IF AT LEAST TWO PLAYERS CONTRIBUTE; if it is not provided, contributions are not refunded. Each player ranks outcome from best to worst as follows: any outcome where the good is provided and he/she does not contribute (4) > any outcome where the good is provided and he/she contributes (3) > any outcome where the good is not provided and he/she does not contribute (2) > any outcome where the good is not provided and he/she contributes (1) (a) (15 points) Construct the strategic form (payoff table) of the game. Make sure you construct an ENTIRE, FULL payoff table. (b) (10 points) Underline the best responses and find the Nash equilibrium (or equilibria) 3-Player Public Good Contribution: Consider a game in which three players must independently and simultaneously choose whether to contribute to the provision of a public good. The good is provided IF AND ONLY IF AT LEAST TWO PLAYERS CONTRIBUTE; if it is not provided, contributions are not refunded. Each player ranks outcome from best to worst as follows: any outcome where the good is provided and he/she does not contribute (4) > any outcome where the good is provided and he/she contributes (3) > any outcome where the good is not provided and he/she does not contribute (2) > any outcome where the good is not provided and he/she contributes (1) (a) (15 points) Construct the strategic form (payoff table) of the game. Make sure you construct an ENTIRE, FULL payoff table. (b) (10 points) Underline the best responses and find the Nash equilibrium (or equilibria)

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a The strategic form payoff table of the 3player public good contribution game is as follows Player ... View the full answer