Question

Brought to Europe by the explorer James Cook in 1771, a tattoo is made by inserting...

Brought to Europe by the explorer James Cook in 1771, a tattoo is made by inserting indelible ink into the dermis layer of the skin. Though that does not sound particularly appealing, tattoos have become quite popular in the US. According to a survey by Pew Research in 2008, 14% of all Americans have at least one tattoo, and an astounding 36% of Americans between the ages of 18 and 25.

In thinking about the decision to have a tattoo, let us suppose there are two major types of young people: those who find a tattoo cool, but only if a majority of young people have them – the trendy types; and those who find a tattoo cool, but only if a minority of young people have them – the counter-culture types.

  • The payoff to a trendy type from having a tattoo is 10 + 2m where m is the number of all other young people with a tattoo.
  • The payoff to a counter-culture type from having a tattoo is 350 – 4m.
  • For example, if 30 trendy types have a tattoo and 20 counter-culture types have a tattoo, then the payoff to a trendy type with a tattoo is 10 + 2(49) = 108, and the payoff to a counter-culture type with a tattoo is 350 – 4(49).
  • For either type of person, the payoff from not having a tattoo is 100. Assume there are a total of 75 young people, with 50 who are trendy and 25 who are counter-culture.
  1. Is it a Nash equilibrium for only counter-culture types to have a tattoo?
  2. Is it a Nash equilibrium for only trendy types to have a tattoo?
  3. Is it a Nash equilibrium for all young people to have a tattoo?
  4. Is it a Nash equilibrium for no one to have a tattoo?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Discussion Topic: Use “Euro-Disney Stumbles” (p. 130) from the textbook. (Adams & Galanes) The third dimension...
Discussion Topic: Use “Euro-Disney Stumbles” (p. 130) from the textbook. (Adams & Galanes) The third dimension is that of context. In a low-context culture, such as that of the United States and New Zealand, the verbal part of the message carries the meaning—what you say is exactly what you mean. If you say that you like my proposal, I can trust the fact that you really do like it. In a high-context culture, such as most Asian and Native American...
300 words:      (b) Do you think that it is appropriate for firms like Black Diamond...
300 words:      (b) Do you think that it is appropriate for firms like Black Diamond to scrutinize its partner factories like this?      (c) Why or why not? case study Task: Read the “Black Diamond Equipment” case below and then answer the following questions. >> The way that Black Diamond is run, I don't really consider this the American way, I consider Black Diamond an extension of the attitude, the culture, the ethos, and the values of the life...
Question 26 (1 point) Retrospective voting is a type of bloc voting and occurs when: Question...
Question 26 (1 point) Retrospective voting is a type of bloc voting and occurs when: Question 26 options: 1) voters give votes to candidates based on promises made. 2) the elderly voters withhold votes to candidates based on a judgment of past performance. 3) voters tell their friends not to vote for a candidate based on the candidates' past performance. 4) elderly voters do not vote but think about the past times in which they have voted. Save Question 27...
CASE: Sharesies: NZ investment platform Everyday investment company Sharesies was launched in February 2017, after conducting...
CASE: Sharesies: NZ investment platform Everyday investment company Sharesies was launched in February 2017, after conducting research on New Zealanders’ attitudes towards investing. Prior to launching the company, the co-founders interviewed over 200 people asking them “If I gave you $50 right now, and you had to do something with it in the next 5 minutes what would you do?” Only 5 out of 200 people chose an option to save or invest the $50. More popular options were bills,...
Everyday investment company Sharesies was launched in February 2017, after conducting research on New Zealanders’ attitudes...
Everyday investment company Sharesies was launched in February 2017, after conducting research on New Zealanders’ attitudes towards investing. Prior to launching the company, the co-founders interviewed over 200 people asking them “If I gave you $50 right now, and you had to do something with it in the next 5 minutes what would you do?” Only 5 out of 200 people chose an option to save or invest the $50. More popular options were bills, online shopping, coffees, vouchers, food,...
Everyday investment company Sharesies was launched in February 2017, after conducting research on New Zealanders’ attitudes...
Everyday investment company Sharesies was launched in February 2017, after conducting research on New Zealanders’ attitudes towards investing. Prior to launching the company, the co-founders interviewed over 200 people asking them “If I gave you $50 right now, and you had to do something with it in the next 5 minutes what would you do?” Only 5 out of 200 people chose an option to save or invest the $50. More popular options were bills, online shopping, coffees, vouchers, food,...
New Wave Music New Wave Music is an international company that develops music software that is...
New Wave Music New Wave Music is an international company that develops music software that is used to compose music, play recordings in clubs, and produce albums. Founder and CEO Moritz Halbach is the company’s biggest fan. He said “I started this company from nothing, just me, my ideas, and my computer. I love music---love playing music, love writing programs for making music, love listening to music---and the money is nice, too.” Moritz says that he never wanted to work...
Scenario Pigs R Us is a second generation, family-owned Richmond-based company with about 400 employees. It...
Scenario Pigs R Us is a second generation, family-owned Richmond-based company with about 400 employees. It slaughters, manufactures, and sells pork food products.  Pigs R Us (PRU) is a low-tech, hands-on, “bricks and mortar” type of company with solid brand recognition, an impeccable reputation for high quality and ethical standards. The processes used in manufacturing are with the highest ISO20002 standards, and the plant is maintained immaculately. The personnel are comprised of an older work force (average employee age is late...
What strategy would you recommend for Dove (1) in responding (or in not responding) to consumers...
What strategy would you recommend for Dove (1) in responding (or in not responding) to consumers and (2) going forward (or not going forward) with the campaign? If they were to go forward with this campaign, should Dove revise its Real Beauty message and if, so, how? The Dove Real Beauty Campaign In 2004, with sales at approximately $2.5 billion, Dove saw an opportunity to tap into women’s self-perceptions of beauty to address female insecurities while building a connection between...
46. Which of the following can provide valuable insight to a nutrition coach, when attempting to...
46. Which of the following can provide valuable insight to a nutrition coach, when attempting to establish motivation? Food logs Open-ended questions Incentives and penalties Before and after photos 47. The state of having complete understanding and knowledge of a subject or situation is referred to as mastery. autonomy. knowledge. understanding. 48. What is the goal of uncovering ambivalence? To produce dialogue To listen, rather than tell To communicate respect for and acceptance of clients and their feelings To create...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT