There are three players in a public good game. Each player (i=1,2,3) has 100dollars to contribute the amount of money cı, i=1,2,3, for a public good. Each player'spayoff depend on the following:(i) The amount of her remaining wealth 100-c, i=1,2,3, for spending in private good.3.(ii) The amount of public good is equal to the sum of contributions from all players.(iii) Each person cares about the amount of public good and her consumption of privategoods.Based on the above assumption, each players ui-(100+c)+(c1+c2+c3)(100-c), i=1,2,3(a)What is the amount of each player contribute to the public good for Nashequilibrium for the non-cooperative simultaneous game?.What is total payoffs for all players in the non-cooperative simultaneous game?What is the amount of each player contributes to the public for social optimum if(b)(c)there are no discrimination of all players?Hint: The social optimum is the maximum total payoff if all players cooperate together.You might think the total amount of contribution C=c1+c2+c3 and total payoffU=u1+u2+u3.(d)What is the total payoff for all players in the cooperative simultaneous game?

Given that:There are three players in a public good game Each player (()()Each player's payoff…

Answered: 3. There are three players in a public…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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