game theory homework

Extend the model in the lecture in one direction (see below).Build a new game, explain what you did, justify the payoffs – and find Nash equilibrium or subgame perfect equilibrium.

Possible extensions:

  • Number of countries
  • Level of production
  • Cost of production
  • OPEC’s oil reserves are shrinking over time. This shrinkage will eventually have an impact on the profitability of any production policy.
  • The role of non-OPEC production.
  • Research toward a disruptive technology (a new, cheaper way of exploiting oil deposits or alternative sources of energy).

i’m lookign for someone who can really answer this question, not from google or other sort of stuff.

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