MICROECONOMICS
MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
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Chapter 20, Problem 3QAP
To determine

Compare the difference between the outcomes when women and men play strategic games.

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You have just played rock, paper, scissors with your friend. You chose scissors and he chose paper, so you won. Is this a Nash equilibrium? Explain why or why not.
Suppose China and the US are deciding whether to join an international agreement to mitigate climate change. The matrix below contains payoffs that represent each country’s net benefit from their decisions. Use this information to answer Question 24.   CHINA       USA   Join Agreement Do Not Join Agreement   Join Agreement (100,100) (0,125)   Do Not Join Agreement (125,0) (25,25)     [24] What does each country decide to do in a Nash equilibrium?  AND  What is the efficient outcome? Nash: Efficient:
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