The Treaty of Rome signed by six countries (Belgium, France, Italy, Luxembourg, the Netherlands, and West...

     

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The Treaty of Rome signed by six countries (Belgium, France, Italy, Luxembourg, the Netherlands, and West Germany) in 1957 created the European Economic Union (EEC). Later, the membership of the EEC expanded to include other European countries. Until 1992, the Maastricht Treaty (formally called the Treaty on European Union) was signed. Today, with the U.K. exited the EU in January 2020, the EU membership consists of 27 countries. [Note: Historically, the EU membership changed from time to time over the past several decades. However, the number of member countries increased over time.] a) From the game theory perspectives, what could be the reasons that induce countries to join or exit the EU? [10 marks] b) What could be some of the costs and benefits of becoming a member of the EU? [10 marks] c) In what sense can the EU be formulated as a cooperative game? [10 marks] d) Has the game changed after the exit of the U.K.? [10 marks] Activate Window Go to Settings to activa The Treaty of Rome signed by six countries (Belgium, France, Italy, Luxembourg, the Netherlands, and West Germany) in 1957 created the European Economic Union (EEC). Later, the membership of the EEC expanded to include other European countries. Until 1992, the Maastricht Treaty (formally called the Treaty on European Union) was signed. Today, with the U.K. exited the EU in January 2020, the EU membership consists of 27 countries. [Note: Historically, the EU membership changed from time to time over the past several decades. However, the number of member countries increased over time.] a) From the game theory perspectives, what could be the reasons that induce countries to join or exit the EU? [10 marks] b) What could be some of the costs and benefits of becoming a member of the EU? [10 marks] c) In what sense can the EU be formulated as a cooperative game? [10 marks] d) Has the game changed after the exit of the U.K.? [10 marks] Activate Window Go to Settings to activa