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Two neighbours share a pond they have stocked with catfish. They have agreed upon the amount of fish each can catch in order for the
Two neighbours share a pond they have stocked with catfish. They have agreed upon the amount of fish each can catch in order for the stock of catfish to replenish itself. If one neighbour increases the amount he fishes a little bit, the catfish stock could still replenish itself. If both neighbours increase their fishing, the stock will not be sustainable. Both neighbours would like to cheat and increase the amount they fish, but want the other neighbour to stick to the agreement. a. The noncooperative outcome is: multiple choice 1 to stick to the original agreement about the amount of fishing that is sustainable without having to restock the pond, which makes them both worse off. for both neighbors to increase fishing, which will make them both worse off. for both neighbors to increase fishing, which will make them both better off. b. The cooperative outcome is: multiple choice 2 for both neighbors to increase fishing, which will make them both better off. for both neighbors to increase fishing, which will make them both worse off. to stick to the original agreement about the amount of fishing that is sustainable without having to restock the pond
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