Question
Please read the below background (sourced from the the guardian article - https://www.theguardian.com/science/2021/nov/07/will-the-magic-of-psychadelics-transform-psychiatry and set up a game (sequential, simultaneous, continuous - whatever takes your
Please read the below background (sourced from the the guardian article - https://www.theguardian.com/science/2021/nov/07/will-the-magic-of-psychadelics-transform-psychiatry and set up a game (sequential, simultaneous, continuous - whatever takes your fancy), describing 2 firms considering selling either synthetic psilocybin, which requires patent registration and will be treated as Intellectual property, or sale of cultivated psilocybin mushrooms, that do not require a patent. Describe the game, payoffs and payoff structure, explore an equilibrium or approach to solving it.
"As with renewable energies, markets are responding to the gargantuan potential profits to be made amid the new consciousness and the wheels of capitalism are now in full motion. The multi-billion-pound alcohol, pharmaceutical and wellness markets are facing serious disruption thanks to the ascendance of psychedelics. Magic mushrooms are even being legally imported into the US for the first time, for research, after a maiden delivery earlier this year. On the recreational side, high-street psychedelic dispensaries have been popping up in Canada despite their sale remaining illegal. Brazen vendors say there is already enough research to prove the drugs are safe.Naturally, there is a clamoramong the disrupters to consolidate their companies' positions at the forefront of the pharmaceutical psychedelics market.
Mental health company Compass was the first to be granted a patent for synthetic psilocybin in early 2020. It was subsequently granted another two in March for an oral psilocybin depression treatment, but faces criticism for an alleged intellectual property land grab that may hinder scientific research by limiting competition. Another 37 patents are being considered by US authorities, with 66 already granted, according to a patent tracker. One company even patented LSD for eating disorders before they had begun investigating whether it was effective."
https://www.theguardian.com/science/2021/nov/07/will-the-magic-of-psychadelics-transform-psychiatry
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