Friday

April 18, 2014

April 18, 2014

Posted by **quynh** on Wednesday, September 14, 2011 at 3:11pm.

Suppose that citizen has the utility function,

Ui (c1,c2)= ln(ci) + ln [(y-c1-c2)/2]

, for i=1,2.

Find the Nash equilibrium pattern of resource use in this game of individual competition and compare it to the pattern of resource use that would be socially optimal.

P.S: i know how to solve the Nash quilibrium for individual, but i don't know how to come up with the social optimization.

Thank you

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