We want to write an essay about analysis of behavior in limited entry common pool resource based on our lab(Lab instruction and data are attached).
Our thesis is how do individuals’ decisions reflect their experience in past rounds or why do individuals deviate from N.E. in CPR experiments. So please analysis this in this paper by generate the absolute difference between individual effort and Nash equilibrium, and the individual payoff in the Stata
Some info that useful in the analysing data part:
44 participants, 11 group, each round randomly matched, 24round, 2 treatment
Group Revenue is:
a∑ei – b(∑ei )^2
Individual payoff function is:
cL (ej =0)
ej [a – b∑ei] + c(L – ej) (0 < ej ≤ 25) a = 23 b = 0.25 c = marginal cost in each treatment C1 = 5 (first 12 rounds) C2 = 11.75 (last 12 rounds) ej = individual effort L = 25 (max individual effort) N.E. = 14.4(first 12 rounds) N.E. = 9(last 12 rounds) The essay structure should be similar to the forth file attached. But the content should be you own!!!!!! The paper should has 15-20 pages. The reference in this paper can from google scholar. APA format. And more format please check the guidelines files. Must follow the guideline!