The conclusion is of course interesting however, the why which is elucidated in the analysis will compel the reader to read on. The literature review is thorough and sets up a fundamental reason for the author's undertaking of the project; the available research is fragmented and not conclusive in its determination of why cooperatives and investor-owned models are different and why they are used. The author's strength in presentation is not in its subtlety but in its direct statement of fact, rationale, and logic. Citing pages five six, the discussion of profit maximization as the objective of firms is contrasted with evidence that this is not always the case, particularly for cooperatives. In creating this dichotomy the author purposefully or perhaps outlines their later argument that outcomes under the Nash Equilibrium are in fact consistent with the divergent objectives of one and two player actors in their respective business models. The discussion section provides a solid continuation of the thorough and well-presented analysis section (discussed earlier in regards to the model). The author does a fine job of presenting the findings inside the analysis. Where the analysis section depends on a thorough understanding of economic, econometrics, and theory the discussion takes the conversation to a level which a cooperative user could find pragmatic and useful. In totality the exposition provides considerable insight and thoughtfulness in answering the questions outlined in the opening sections. The ending of the discussion though could use some counterpoint analysis in regards to its supposition on the continuing use of the cooperative model in agribusiness. The model is different because of the objectives of the economic players, and it has a demonstrated success record in achieving the goal of social welfare maximization. That said the analysis...
This idea is not one to be presented in the paper but rather a point for the author to consider in the context of further research and alternative explanations.
An infinite number of Nash equilibria exist. Given any request, the corresponding strategy of the equilibrium pair simply requests the remainder of the cake. If the first person did not request the entire cake for him or herself, there is a strict Nash equilibrium. If the first player did request the whole cake, the equilibrium is not a strict Nash equilibrium. However, if player 2 makes any nonzero demand, he
Game Theory Why did Apartheid End? A Solution Developed from the Concept of Game Theory James Michener was a history professor at the University of Texas and a widely read chronicler of different periods of history. Michener was largely a novelist, but his novels were based on factual information that was peopled by fictional, but representative, main characters and some historical figures. In a book called "The Covenant," Michener detailed the history of
Game Theory: Galatasaray "What economists call game theory psychologists call the theory of social situations, which is an accurate description of what game theory is about. Although game theory is relevant to parlor games such as poker or bridge, most research in game theory focuses on how groups of people interact" (Levine, 2013). Game theory is used in a variety of situations and professions where it is imperative to use razor-sharp
Game theory is a concept that entails formal study of cooperation, conflict and actions taken up by several interdependent agents. Game theory as a concept lays down the structure that facilitates through analysis an understanding of the strategic choices agents adopt[footnoteRef:1]. The earliest conceptualization of game theory is by Cournot in 1838 where the analysis sought to clarify choices and actions taken in a duopolistic market [footnoteRef:2]. Over the years,
Sometimes everyone draws nine bones. Usually, in Dominican rules, if one player is blocked, he cannot play, has to pass, and does not draw from the bone yard; so those 27 bones are completely out of the game. In the variants of different cultures, sometimes the blocked player must draw one bone every time he passes, and in others must continue to draw bones until he has a play.
So-called n-person games include more than two actors or sides….The central problem is that the rational decision for an individual actor such as a state may be to 'defect' and go it alone as opposed to taking a chance on collaboration with another state actor" as did Israel and the ascent of the Likud after Arafat's refusal of the 2000 peace deal (Beavis 2010). Yet saber-rattling no longer seems
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