Each of 50 commuters (commuting in the same direction) must choose which of two routes to take: Route 7, which is a four-lane highway, or Route 10, which is a two-lane highway. Every commuter cares only about minimizing the expected time spent commuting. If k commuters take Route 7, then each of these k commuters spends 30+ k minutes commuting. If n commuters take Route 10, then each of these n commuters spends 30 + 2n minutes commuting. (a) Find all pure strategy Nash equilibria of the game in which all commuters simultaneously

Each of 50 commuters (commuting in the same direction) must choose which of two routes to take: Route 7, which is a four-lane highway, or Route 10, which is a two-lane highway. Every commuter cares only about minimizing the expected time spent commuting. If k commuters take Route 7, then each of these k commuters spends 30+ k minutes commuting. If n commuters take Route 10, then each of these n commuters spends 30 + 2n minutes commuting. (a) Find all pure strategy Nash equilibria of the game in which all commuters simultaneously

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter2: Scarcity And Opportunity Costs

Section: Chapter Questions

Problem 14E

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