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4. Two doctors are competing in a neighborhood. Each has two strategies: Buy an MRI machine. Don't buy an MRI machine. T
Posted: Sat Feb 19, 2022 2:41 pm
by answerhappygod
- 4 Two Doctors Are Competing In A Neighborhood Each Has Two Strategies Buy An Mri Machine Don T Buy An Mri Machine T 1 (58.73 KiB) Viewed 52 times
4. Two doctors are competing in a neighborhood. Each has two strategies: Buy an MRI machine. Don't buy an MRI machine. The normal form game modeling their competition is a Prisoners' Dilemma: Dr. 2 buy don't buy buy 3,3 9, 2 Dr. 1 don't buy 2,9 8,8 A. Write a little story that explains why the payoffs are what they are. B. How could the doctors avoid the dilemma? Come up with at least two ideas for them. Remember this is a non-cooperative game, they can't just write a legally binding contract in which they agree to not buy the MRI machine.