Business, 26.01.2022 22:40 InnocentSoul
Person 1 cares about both her income and person 2's income. Precisely, the value she attaches to each unit of her own income is the same as the value she attaches to any two units of person 2's income. For example, she is indifferent between a situation in which her income is 1 and person 2's is 0, and one in which her income is 0 and person 2's is 2. How do her preferences order the outcomes (1, 4), (2, 1), and (3, 0), where the first component in each case is her income and the second component is person 2's income? Give a payoff function consistent with these preferences.
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Person 1 cares about both her income and person 2's income. Precisely, the value she attaches to eac...
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