Mr. and Mrs. Ward typically vote oppositely in elections, so their votes cancel each other out. They
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Question:
Mr. and Mrs. Ward typically vote oppositely in elections, so their votes cancel each other out. They each gain two units of utility form a vote for their positions (and lose two units of utility from a vote against their positions). However, the bother of actually voting costs each one unit of utility. Diagram a game in which they choose whether or not to vote. Suppose Mr. and Mrs. Ward agreed not to vote in tomorrow's election.
Would such an agreement improve utility?
Would such an agreement be an equilibrium?
Mrs Ward | |||
---|---|---|---|
Vote | Don't Vote | ||
Mr. Ward | Vote | -1, -1 | 1, -2 |
Don't Vote | -2, 1 | 0, 0 |
Related Book For
Managerial Economics A Problem Solving Approach
ISBN: 978-1133951483
3rd edition
Authors: Luke M. Froeb, Brian T. McCann, Mikhael Shor, Michael R. War
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