Imagine that three players need to cooperate to provide a public good that will be enjoyed...

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Imagine that three players need to cooperate to provide a public good that will be enjoyed by all. The benefit associated with this good is Yn, where Y > 1 and n is the number of players that cooperate. The cost of cooperating is 1. Each player can either choose to cooperate towards the provision of the good and pay 1, or defect and pay 0. All players receive Yn regardless of whether or not they cooperated. 1. (2 pts) Write this as a normal form game. That is, specify players, their strategy spaces, and payoff functions. 2. (6 pts) Find all pure strategy Nash equilibria of this game. Imagine that three players need to cooperate to provide a public good that will be enjoyed by all. The benefit associated with this good is Yn, where Y > 1 and n is the number of players that cooperate. The cost of cooperating is 1. Each player can either choose to cooperate towards the provision of the good and pay 1, or defect and pay 0. All players receive Yn regardless of whether or not they cooperated. 1. (2 pts) Write this as a normal form game. That is, specify players, their strategy spaces, and payoff functions. 2. (6 pts) Find all pure strategy Nash equilibria of this game.

Answer rating: 100% (QA)

1 Normal Form Game Players Three players denoted as Player 1 Player 2 and Player 3 Strategy Spaces Each player has two strategies Cooperate or Defect ... View the full answer