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greenmole155Lv1
28 Sep 2019
Suppose ten people dine at an expensive restaurant and agree to divide the bill equally. What is the additional cost to any individual of ordering an additional appetizer costing $20? Given this dividing rule, what is the Nash equilibrium? Explain why this method of dividing the bill may be inefficient. Can you come up with another way of paying the bill that leads to a better outcome? Explain why this will lead to more efficient outcomes.
Suppose ten people dine at an expensive restaurant and agree to divide the bill equally. What is the additional cost to any individual of ordering an additional appetizer costing $20? Given this dividing rule, what is the Nash equilibrium? Explain why this method of dividing the bill may be inefficient. Can you come up with another way of paying the bill that leads to a better outcome? Explain why this will lead to more efficient outcomes.
Joshua StredderLv10
28 Sep 2019
