ps1(404)-1

ps1(404)-1 - ECON 404 - Pr. Juan D. Carrillo Assignment 1...

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Unformatted text preview: ECON 404 - Pr. Juan D. Carrillo Assignment 1 Problem 1. Electing your leader Consider a committee of three agents, Mr. Pink, Mr. White and Mr. Orange whose task is to choose one alternative from the choice set { ,, } by means of voting. Committee members vote simultaneously for one and only one alternative. The alternative that gets 2 or 3 votes wins. In case of tie between the three alternatives, the chairman of the committee (Mr. Orange) unilaterally decides the winner. The utility of Mr. Pink is 2 if is selected, 1 if is selected and 0 if is selected. The utility of Mr. White is 2 if is selected, 1 if is selected and 0 if is selected. The utility of Mr. Orange is 2 if is selected, 1 if is selected and 0 if is selected. (a) Find the outcome of the game if members vote sincerely , that is if they each vote for the alternative they like best independently of what others do....
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ps1(404)-1 - ECON 404 - Pr. Juan D. Carrillo Assignment 1...

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