Question
Consider a cat owner (H) who owns a cat (K). Let: C > 0 be the cost for H if H gets a common flu.
Consider a cat owner (H) who owns a cat (K). Let:
C > 0 be the cost for H if H gets a common flu.
CH > 0 be the cost for H to get human flu vaccination.
CK > 0 be the cost for K to get cat's flu vaccination
Suppose that:
- probability of K getting the virus without vaccination = 1/2
- probability of K getting the virus with vaccination = (1/2)^2
- probability of H getting the virus without vaccination (in case K gets the virus) = 1/2
- probability of H getting the virus with vaccination (in case K gets the virus) = (1/2)^2
In the following the cat K plays the following game in proxy by H thus pay-off for K = pay-off for H.
We obtain the following pay-off table for this "game":
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started