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Based on the news article “Have We Evolved to Be Nasty or Ni

Paper help Economics Based on the news article “Have We Evolved to Be Nasty or Ni

Economics

Based on the news article “Have We Evolved to Be Nasty or Ni

Based on the news article “Have We Evolved to Be Nasty or Nice?” (url below), Answer the following q… Show more Based on the news article “Have We Evolved to Be Nasty or Nice?” (url below), Answer the following questions. http://online.wsj.com/article/SB10001424127887324105204578384930047065520.html 1. In the prisoner’s dilemma, demonstrate that selfish behavior is inefficient. That is, show that players would both be better off if both cooperative. 2. In the problem of the commons, suppose each of two players has the choice whether to graze 10 cows or graze 5 cows on a common field. If both graze 10 cows, then each receives a payoff of 3. If both graze only 5 cows, then each receives a payoff of 8. If farmer i grazes 10 cows and j grazes 5 cows, then i receives a payoff of 11 and j receives a payoff of 1. What is the Nash equilibrium? Would the farmers be better off if both switched from the Nash equilibrium number of cows? Is this problem of the commons an example of the prisoner’s dilemma? 3. Why do humans tend to cooperate with relatives and frequently encountered acquaintances? Discuss the role and the effect of reputation on cooperative behavior by selfish individuals. Discuss the biological reason for cooperative behavior with relatives. • Show less

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