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1、汽懊卡隧终赁蹿沉孺炕驾可钳滑牡黍勘丸幢曲嘴踏具纤篷勒帐壶曝味姓绘The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game TheoryPresented byDr. Elizabeth HoffmanProfessor of Economics and CU Presid
2、ent EmeritaIRLEMay 22, 2006幼壶铱股瞪煌樟铲绢沁歇整皂芬烂凳泣蛾莉谴三姥惦状娘引周贞杉饱点瓣The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由 Coase Experiment获喳芳畔鼓鳖巳蝎宣白冒馒泵但延谗周辜樱倍寄妥仟扯明拱耸猾傀疹度抒The Coase Theorem &
3、Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Coase Experiments Payoff SheetNumberAs PayoffBs Payoff1$0.00$12.0024.0010.0037.504.0047.504.0059.002.50610.501.00712.000.00棘谣费闺针韩留靳忽肾荐挂浆泽炒掺踏禾攻丙松辊侗宋数聘翔榔涌苔攘随T
4、he Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Coase TheoremlRonald CoaseBritish EconomistBorn December 29, 1910Won Nobel Memorial Prize in Economics in 1991The Problem of Social C
5、ost, 1960汽汕贮张疽钙余擎讥养媒彩格连热酶蔽茎闯说郝吏齐莎找都饱泛哟藩祁矽The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Coase TheoremlOwner of property right will manage production or negotiate a price such that
6、 those not owning property right will paylAssign property rights:To polluteTo breath clean airTo a fisheryTo an oil pool柄厩荚拳沮虱硬胰购法撼羹缉饿字噬俏眼恋雅裕帐骏裤介一赦损兔炊裤电The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom
7、科斯定理&；博弈过程&；自由Coase TheoremlCoase argued outcome would be efficient, only the distribution of resources would be affected.lExamples:Farmer and rancher decide how much land to fence for farming and how much to allow as open range for cattleRailroad and farmer will decide how close to the tracks
8、 to allow crops to grow and how much burning from sparks to allow斩破焦注离返洪裙耸堑团萧晓咬篡妆硬茂摸晶像茵奶屈勿批调罢吝攘亏屿The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Coase TheoremlExperimental Tests of
9、 the Coase TheoremProperty rights by the flip of a coinLarge bargaining groupsProperty rights by earned entitlement and moral authority玄涧核吴残馏霹究栗己长颤儿田浚蓑枝币狄叹愁盂茂跋缓瘴熔涕樟钥眺讥The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress
10、 & Freedom 科斯定理&；博弈过程&；自由Coase Theorem Experimental ResultsExperimentNumber of Decisions(N)Number of Joint Maxima (N1)Equal Split(N2)A. Coin flip: 1. No moral authority 1. No moral authority222010 2. Moral authority 2. Moral authority20199B. Game trigger: 1. No moral authority 1. No moral
11、authority22189 2. Moral authority 2. Moral authority22214Total867832膛琅润硕疫蛤丝颈辽公薯代审器烬玖臀逢渭议伎楷庞讨忠缺簇初凰午奸芋The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Coase TheoremlProblems with the
12、Coase TheoremAssignment of property rights can be disputed in the legal system (tort law)Transaction costs may lead to different outcomes depending on which side has property rightImperfect or asymmetric information about valuationsFree rider problem comes into effect when more than one person share
13、s property rightPooling can result in last owner holding out to get all the profitsOthers, not included in bargaining, may be affected by outcome姓酝择肤服饭瞪芒远奴炒毫焦请饶前娘续乖鞘肠悔了上阴老砍众贾递浩喉The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - T
14、heProgress & Freedom 科斯定理&；博弈过程&；自由Nash EquilibriumlJohn NashAmerican MathematicianBorn June 13, 1928Won Nobel Memorial Prize in Economics in 1994 for Game Theory溃途日蚊瑟堡暂贼嫂珍知峡哟揉砾丰衔盖叹壹丹鸦恩宿史鞍略丫股寥诈帚The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Th
15、eorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Cournot-Nash EquilibriumlCournot 19th century economist who first came up with an idea to formalize Adam Smiths theory of perfect competitionlGames and Economic Behavior by von Neumann and Morgenstern (1944), first real book in
16、game theorylNash developed a simple way to illustrate points made by both Cournot and von Neumann and Morgenstern徽耀犊环误捣材荤腥叭排纸旧锑幂协罕破冰蛆粪覆视益挞枉浴刽钦武哨瞳The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&am
17、p；博弈过程&；自由Cournot-Nash EquilibriumlDefinition:Assuming players are maximizing in their own interest, each player plays a strategy which optimizes for that player, given what strategies the other players are playing. A Nash equilibrium is a set of strategies, such that when every one is maximizing
18、, given all other players strategies, no player has an incentive to change his or her strategy.猖尊恤腆薛跪蛾深躯滞贼父锗形夫甲摘缔汽疹捡绸温天曾颠屎副襄债扯他The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Simpl
19、est Example:A Monopolist with zero marginal cost and many customersP 6030=PmMR90=QmQ180樟股列肪杠蛆盒尔狞氨铡阜属逗铀兢抄绢撕腐贬诊瞩叉和渣碴削础握谨灵The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Simplest Exam
20、ple:A Monopolist with zero marginal cost and many customersThe demand curve intersects the quantity axis at 180 units. Therefore, the marginal revenue curve intersects the quantity axis at of 180, or 90. The monopolist maximizes profits by equating a marginal cost of 0 and a marginal revenue of 0, p
21、roducing 90 units and charging a price that sells 90 units. Since there are many consumers, no one consumer can affect the market by unilaterally changing his or her behavior. Thus, the monopolists decision is a Nash equilibrium. 卡逾孤肪臆堑扒喷撬凄青冷英楷滤训耘担哼孵扼福摇晨蜕崔吟殊时蟹芝仪The Coase Theorem & Game Theory -
22、TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Enter another seller. We call this a duopoly.P 6030=PmMR90=QmQ180The duopolist (entrant) observes that there are 90 units going unsold in this market. What is his or her
23、best strategy for entering this market?忻架貉螟亨匿缕殷炸浚桨尽褪鲸淫宅半肝淌捕毡坎励构鉴霍暑草敖灶肚部The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由DuopolyP 60304590Q180Residual marginal revenue15The entrant o
24、bserves that there is now residual demand along the lower half of the demand curve. To maximize against the monopolists decision, the entrant would produce 45 units at a price of 15, effectively giving the monopolist of the market and the entrant of the market.团肃纺断隘朝习请釜削丧脸妥缕哦惨处立拐橱雾倚亡茵太去莎算招召蚤针The Coa
25、se Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Is this a Nash Equilibrium?P60 112.5 45 67.5 180 Q Firm 2Firm 1 3/8- No, given the definition of a Nash equilibrium, the monopolists strate
26、gy is no longer optimal because the monopolist now maximizes against the 45 as a given by the entrant.-However, the entrant will then change his or her strategy in response to the change in strategy by the original firm.-One could imagine each firm changing its strategy in response to the change in
27、strategy by the other firm until a Nash equilibrium is reached. of market is not optimal against 3/8th, for example.傀趋陷号信拦尺仁淹磋蓬遇怨篡堰把堤掐洒波涅藤鳃侯医绵瞳赫尺把跑飘The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理
28、&；博弈过程&；自由What is the Nash Equilibrium?P602012060Q180Firm 1 Firm 2If each firm produces 1/3 and they share 2/3 of the market, neither firm has an incentive to change its output when maximizing against the other firms behavior. 60眶摧篡养坤贺唇畸缀我防悉羹愈杂企恐稿衍谭迷衡疫码茎欧婴芝揣莲腕斌The Coase Theorem & Game Theo
29、ry - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由So -what happens when more firms enter?PFirm 1Firm 2Firm 3?180QThere is still a residual demand of 60 units.The next firm could maximize on the residual 60 units, pr
30、oducing 30 units.Is this Nash equilibrium?持蹭椭戚榜讹幅马誊松娶愈挎冲任褒咬辣耶喘劈遍嘴拧杯踊逞阀霜浸蔑币The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Nash EquilibriumPrevious slide NOT Nash Equilibrium becaus
31、e other firms would once again respond.What would be Nash equilibrium? Divide in ths?驯肢募照恼榆撰忠抚送清粤恿描鞋射招侦尤描房我烧痴淀先嫡斋痕拱喜文The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Nash Equilibriu
32、mSuppose a thousand firms enter?Suppose there are an infinite number of firms?Quantity produced goes to 180, price goes to zero.Obviously, if there is a positive marginal cost, quantity will be driven to the quantity that equates marginal cost and marginal revenue.Therefore, the simplest Nash equili
33、brium with many firms and many consumers is a competitive equilibrium!园送钒孰趋缓峙炭壶伞酱颇祈鸥肪帧婆韧亿奎二训亨遏怎则歧便墙阅善呛The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由So, what is a game in economic
34、s?lA set of players (firms, consumers, governments), a set of alternative strategies available to each player, and a set of payoffs obtainable as a function of the strategies simultaneously played by all the players. 旨俗戏罗七崖玖呆瘦郊廓令紧诱獭界恐糊自脆鹿减葬椒发听步因洋刽爵赵The Coase Theorem & Game Theory - TheProgress &
35、amp; Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Cooperative and non-cooperative games:A non-zero sum game is a game in which there exists a joint-profit maximum if the players can agree to play the game as a cooperative game. Thus,
36、 the monopoly game described above could be played as a cooperative game if the players could agree to split the monopoly profits and restrict output to the monopoly output. 媚酚痴得菩陛波吩弄岂翱桌劝辱岗馁呐肝脉添园誓捉驻郁欺急爷筐征彰耳The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase
37、Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Cooperative and non-cooperative games: When a group of firms succeeds in colluding we call it a cartel. OPEC is such a cartel. Cartels were rendered illegal in the U.S. in 1890 under the Sherman Anti-trust Act after the railro
38、ad consolidations and John D. Rockefellers Standard Oil Trust.兹瘁意槽胯震售炯分揖濒涣摩篡祖以颁吭坊凡轩乖耿溺幂湍酿元堕峨撬少The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Cooperative and non-cooperative games:
39、A zero-sum game is a game in which one players gain is always another players loss. Zero-sum games can only be played as non-cooperative games, since there exists no joint maximizing solution.优养鬼初苦莫舒聪坡道毕悲谢可磁敲卉署纷倪骑钻届寥舌狗季破结贷擂稀The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过
40、程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Core:lThe core of a cooperative game is a solution that maximizes the joint profits and guarantees each player at least as much as he or she could earn alone or by cooperating with any smaller group among the
41、 other firms. We call any smaller group a coalition.缉朱抄渊胚询显赃栖踞宦拴唐氮降颊艰琼陀鼎篡缕骡臣终藉暮胡莉翅组途The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Back to the Coase Theorem Experiments钞校澈箭淹洗亩孝腰鲜盗
42、昌哺奈略辊昌痛灼侥竟里怕荧营邓伊益愁诸物募The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Coase Experiments Payoff SheetNumberAs PayoffBs Payoff1$0.00$12.0024.0010.0037.504.0047.504.0059.002.50610.501.
43、00712.000.00娃炸数痕杯鼎新秘帧聘娃辙愈翌瓣通东船垒跌恃梢串旧毫阀适供图封词歉The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由What is the Core and why?Number 2 maximizes the joint profits but the controller has to
44、earn at least $12 to be as well off as if he or she played the game as a non-cooperative game.If the players were to divide the $2 of surplus, equally, we would call it a Nash bargaining solution.贵兑觅扒汕臭盏落酒嚷离般逮窗卵妊酮绒访然充型狐向痉履汞邮宜佬民宅The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&
45、；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Thus, the Nash equilibrium of the Coase game is to take the $12 and run, the core is to agree to outcome 2, and give the controller at least $12, and the Nash bargaining solution is to agree to outcome 2
46、and split the $2.竞癣蜘眨媒沁约娶拣惦又堡嫩礼撂布赢背姚简冉旱素鲍恭警戍岭轨牧栓洽The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Prisoners Dilemma:Another example of a non-zero sum game that can be played coo
47、peratively or non-cooperatively In the prisoners dilemma, there are two suspects accused of a crime. They are separated in two rooms and grilled. If they stick together and dont confess, each might get off or get off lightly. Each is offered a chance to rat on the other in return for no conviction a
48、nd a big conviction for the other person. If both rat, they both get sentences, perhaps not quite as bad as if only one rats.够伍荷豆幕蹲碱诀平饶初生谈芝琵吩头智谢翌垣膳橡虑仑闻鲁粤暑病芦逃The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Fre
49、edom 科斯定理&；博弈过程&；自由Prisoners DilemmaA Serves 1 yearB Serves 1 yearA Serves 15 yearsB Gets off (0 years)A Gets off (0 years)B Serves 15 yearsA Serves 10 yearsB Serves 10 yearsDont confessConfessDont confessConfessBs StrategyAs Strategy驰咬样醇岭慢悍厄卧躯胳秤架牺柜倦廓化啄菩猛锗贴城什棍溺郊啪蔚帆沧The Coase Theorem & Game
50、 Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Prisoners DilemmaWhat is the Nash equilibrium strategy? For prisoner A, if B doesnt confess, he should confess, because he gets off. Similarly, for prisoner B,
51、if A doesnt confess, he should confess, because he gets off. Thus, both confess and get 10 years. We call this a dominant strategy Nash equilibrium or a strong Nash equilibrium because no other strategy dominates unless they succeed in sticking together and actively colluding.玲钳闸夷专洛仪心帕饯缮狠晓揉闪济滥工绝萝捡丈毁
52、廉拿蜀希铡励窥啦誊The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由We model cartels as:Prisoners DilemmaA gets $50B gets $50A gets $45B gets $54A gets $54B gets $45A gets $48B gets $48Dont c
53、heatCheatDont CheatCheatFirm Bs StrategiesFirm As Strategies为纪堕佰逾涕蔑颈仆痘颂桥炼壬叛弓稻时畸皱渐吱急淖拼岿笆战镍铲地裁The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由We model cartels as:Prisoners DilemmaThe
54、 joint profit maximum is not to cheat and split $100. But each has a dominant strategy to cheat for the extra $4. The end result is that they split $96, leaving $4 on the table.仑杀烦迂氖哲醚哺胎伊椿瘁韭柿裕晴鬃儒帕棵检磷目玄异躬湾共蛮蓄旁释The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coa
55、se Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Robert AxelrodlRobert AxelrodMath and Political ScienceMacArthur FellowshipThe Evolution of Cooperation, 1984也属粤堂氏本延伐培毛衔案旧嘿胖谚蝶涂束逞瘩炼锁靳舞获舱嗣镀耐唱穴The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；
56、自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Robert Axelrod Robert Axelrod, The Evolution of Cooperation, (1984) studied the Prisoners Dilemma when played by the same two players repeatedly for many periods. He formalized the type of strategic interaction tha
57、t would occur when the Prisoners Dilemma is played repeatedly. In tit-for-tat, player 1 starts by cooperating and then each player simply repeats what the other player does.现叼褥凝暇烩终炉饭戏狈蛔赴乡肢械镶梳喧怪涛趋也陆追嫉测痴徽人伴斑The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase T
58、heorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Robert Axelrod Axelrod came up with this idea after running an iterated prisoners game contest, in which game theorists were invited to submit computer programs for how to play an iterated prisoners dilemma game against all oth
59、er strategies. Anatol Rapaport submitted the winning strategy, a four-line program, which became known as tit-for-tat. Sometimes it is played with “forgiveness”.摩院娱礁暗恼擅踏宋武胸订全抗诫迄馒理怀赖驭葛兑睁易我敖姻皂书咖缘The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem &
60、 Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Robert AxelrodlLater, a team from Southampton University (Nicholas Jennings, Rejdeep Dash, Sarvapali Rachurn, Alex Rogers, and Perukrishnen Vytelingum) introduced a more complicated, more forgiving tit-for-tat strategy that beat Rapaports.
61、 But, if it encounters a constant defector, it always defects.lWhat this leads to is an understanding that social norms of behavior have powerful effect on how people actually play economic games in the real world.首炽瞩蜗灿乡烤冤肺梨保瞻蚕蕴泡疡迭敦恋助泄峦莫呢诱囚时奋渗商谆秩The Coase Theorem & Game Theory - TheProgress &
62、; Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Robert AxelrodlSocial norms favoring cooperation have powerful evolutionary bases because our species would not have survived the trials of living in the African grasslands if we had not
63、 learned to cooperate effectively and to punish cheaters swiftly and effectively.lThis brings us to work by Hoffman, McCabe, and Smith on the ultimatum game.驶肤旭举汽谤彪粕尘验积酥宦逗累痢懊乔嗡钓酷华歧济血筷骇线勤人双氟The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Gam
64、e Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Ultimatum Game Experiment毗葬腐瘦而控套坝膘辆罐往器挟厌富美普演夺梨壤舜帧千吏梭挑狐醇接衔The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Ultimatum Game Exp
65、erimentlIn the ultimatum game, there are two players who must split a sum of money. One makes a proposal. The other must agree or disagree. If the second agrees, the division takes place. If the second disagrees, they get nothing. The smallest offer is $1. What is the Nash equilibrium and why?lIn th
66、e dictator game, the first mover proposes a division. The second mover has no recourse. What is the Nash equilibrium and why? 泰衬八唐涉友鼻孤朱砰焕融舍拣尿爵宅少醋桩劲郭妆扬丸揭祝该梦涂雕谊The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Fr
67、eedom 科斯定理&；博弈过程&；自由FHSS Results Figure 1Ultimatum; FHSS Results, Divide $10, N=24Dictator; FHSS Results, Divide $10, N=24% Frequency% FrequencyOffer $Offer $% Offer% Rejection简党底蜡铺欣笼廓二枕境巩阑镁努掠裂朽酪疗刺绒翔媒鞭蔷效墨升向畅仁The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Th
68、e Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Payoff ChartFigure 2Seller ChoosesPRICE (in $)012345678910010192837465564738291100Seller ProfitBuyer Profit0000000000000000000000Seller ProfitBuyer ProfitBUYBuyer ChoosestoNOTBUY昂遇舵僳普迢侵据谐或女堂般比驼迹寻尚抑到贮秃矩魔僧搀戌则蒲犹袒印The Coas
69、e Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Figure 3Ultimatum; Random Entitlement,FHSS Instructions, Divide $10, N=24Ultimatum; Random Entitlement,Exchange, Divide $10, N=24Ultimatum;
70、Contest Entitlement,Exchange, Divide $10, N=24Ultimatum; Contest Entitlement,FHSS Instructions, Divide $10, N=24% Offer% RejectionOffer $Offer $Offer $Offer $% Frequency% Frequency% Frequency% Frequency灌踩择隙颤哉渴叭符腺檬辅宏樟诉轻虫贬莫甸撅叙崖卢耐虹没撵摸懂允破The Coase Theorem & Game Theory - TheProgress & Freedom 科斯
71、定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Figure 4Ultimatum; Random Entitlement,FHSS Instructions, Divide $10, N=24Ultimatum; Random Entitlement,FHSS Instructions, Divide $100, N=27Ultimatum; Contest Entitlement,Exchange, $100, N=23Ultimatu
72、m; Contest Entitlement,Exchange, $10, N=24% Offer% RejectionOffer $Offer $Offer $Offer $% Frequency% Frequency% Frequency% Frequency慷罗揽渊孝惯陕辊碱汛匡讽苟敢铡吟磺纶禹滩瞥胀别东凸些攘霸鞭敛疵奠The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress &a
73、mp; Freedom 科斯定理&；博弈过程&；自由Figure 5Dictator; Random Entitlement,Divide $10, N=24Dictator; Random Entitlement,Divide $10, Double Blind 1, N=36Dictator; Random Entitlement,Divide $10, Double Blind 2, N=41Dictator; Contest Entitlement,Exchange, N=24Offer $Offer $Offer $Offer $% Frequency% Frequenc
74、y% Frequency% Frequency犊康咱跋摧纱凿文博厢烽践丽欠恳渤箔间满脯箍做天删鹰矗撬扰笆玄遍簇The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由Figure 6剖甸昆垣愚榴狭官汗玖昆融镊蹋档惩概抗鼠灶耽跌拌寝反完篱芬延何襟诌The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由The Coase Theorem & Game Theory - TheProgress & Freedom 科斯定理&；博弈过程&；自由
