One game-theoretic explanation for why the United States never saw a widespread, coordinated lockdown to stop the spread of COVID-19 is that each state benefited from remaining open when its neighbors closed. Thus, the Nash equilibrium was for some states to remain open while others closed down. What kind of game best describes this situation?
One game-theoretic explanation for why the United States never saw a widespread, coordinated lockdown to stop the spread of COVID-19 is that each state benefited from remaining open when its neighbors closed. Thus, the Nash equilibrium was for some states to remain open while others closed down. What kind of game best describes this situation?
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter16: Bargaining
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What kind of game best describes this situation?
- ⭘ Anti-coordination game
- ⭘ All of these categories could describe the situation.
- ⭘ Repeated game
- ⭘ Prisoners' Dilemma
- ⭘ Coordination game"
Transcribed Image Text:One game-theoretic explanation for why the United States never saw a widespread, coordinated lockdown to stop the spread of COVID-19 is that each state benefited from remaining open when its neighbors closed. Thus, the Nash equilibrium was for some states to remain open while others closed down.
What kind of game best describes this situation?
- ⭘ Anti-coordination game
- ⭘ All of these categories could describe the situation.
- ⭘ Repeated game
- ⭘ Prisoners' Dilemma
- ⭘ Coordination game
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