Expected Payoffs under the Social Planner, Noncooperative, and Cooperative Solutions, Case Where Disease Starts in GH
Setting | Solution Strategy Pairs: GH, GL | Expected Payoffsa | |
---|---|---|---|
ENPVH; ENPVL | ENPVT | ||
Simultaneous | ImNS, ImNS | 5, 76 | 81 |
Sequential, GL moves first | ImNS, ImNS | 5, 76 | 81 |
Sequential, GH moves first | ImNS, ImNS | 5, 76 | 81 |
↵a Expectations are obtained from 1,000 simulations over 50 years. Payoffs are in thousands of dollars /acre and are computed for the baseline prices pH = $5,058/ton and pL = $726/ton.