Question: 2. Faceboook or Google? Suppose there are only two main social media sites in the world, Facebook and Google. Suppose further that initially there was

 2. Faceboook or Google? Suppose there are only two main socialmedia sites in the world, Facebook and Google. Suppose further that initiallythere was only one: Facebook, but that there was a lot of

dissatisfaction with it. For example, complaints ranged from: \"they changed the waythe news feed works", \"the privacy settings are awful\3. Facebook or thenew \"BETTER\" version of Google Plus? Now consider a modication to the

2. Faceboook or Google? Suppose there are only two main social media sites in the world, Facebook and Google. Suppose further that initially there was only one: Facebook, but that there was a lot of dissatisfaction with it. For example, complaints ranged from: \"they changed the way the news feed works", \"the privacy settings are awful\3. Facebook or the new \"BETTER\" version of Google Plus? Now consider a modication to the above story. Suppose that Google decide to make one last attempt to crack the social media market. Specically, they take on board all the existing complaints about Facebook, and spend months working on the Google Plus platform so that it is free of all the \"deficiencies\" of Google Buzz and Google Wave. Everyone agrees that the resulting amendments are a weak improvement. In fact, a particular subset of the population now thinks Google Plus is the superior platform. However, despite the improvements, some people still prefer Facebook. The following makes this new story more precise: o The entire population has N people. As before, each person chooses one social media platform to exist on. The two available options remain the same: Facebook (f) and Google Plus (g). o The population is now split into two groups, A and B, and those in different groups have different preferences. Those in Group A prefer Facebook, while those in Group B prefer Google Plus. 0 Once each person has chosen an online platform, she interacts pairwise with every one else in the population, where the same platform is used with everyone. With two groups there are now three types of 2x2 game: two A types interact via the game 0'\(a) Classify the set of pure strategy Nash equilibria for this large population game? Be careful as the set may depend on the sizes of the two groups

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!