Political Economy Assignment Example | Topics and Well Written Essays - 500 words

Political Economy - fitting ExampleIn the first game, player 1s best solution is in UL where he gets 3 pay offs. This is his best response since 32. At the same instance, player B has his best response of 4 playoffs (43 and 32).In the first game, player 1s best response is in UL where he gets 3 pay offs. This is his best response since 32. At the same instance, player B has his best response of 4 playoffs (43 and 32).In the second game. At the same point (UL), both players have their best responses. For player 1, 3 playoffs (32) maculation for player 2, 4 playoffs (40).Nash equilibrium exists when player 1s best response is the same as that of player 2. At (UL), both players have their best responses.The Condorcet loser in the elections is candidate C. The results indicates that his percentage penchant in orderings (CAB and CBA) ar 25% (24% +1%). This is the lowest since that of candidate B is 33%.a. In a plurality formula the candidates would get their votes as A (15000) B (155 00) C (14500) and D (5000). This is the sum of any the votes where each of the candidates is preferred over the rest. Candidate B would be saveed by the system and win with 15,500 votes. As shown by the figures, candidate A would be the runner-up with 15,000 votes.b. Runoff system.Total votes cast in the election are 50000. Therefore, none of the candidate makes it 40% of the votes (20,000). In a runoff, candidates A and B willing be considered. move candidate C would give 3500 votes to A, and 2500 to B as the second ranked.Dropping candidate D will then give 1500 votes to A, and none to B in the same way.The system will therefore favour candidate A, who will be the winner with 15000+3500+ 1500 votes. A total of 20,000 votes.