Business, 14.04.2020 20:14 getsic

Suppose two companies own adjacent oil fields. Under the two fields is a common pool of oil worth $60 million. For each well that is drilled, the company that drills the well incurs a cost of $4 million. Each company can drill up to two wells. What is the likely outcome of this game if each company pursues its own self-interest?

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Suppose two companies own adjacent oil fields. Under the two fields is a common pool of oil worth $6...

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