Suppose that Donald owns a building that is worth $606 million to him. There is another person in the city, Bernie, who values the building at $1,312 million (we know this to be objectively true). Would it be efficient for the mayor of the city to seize the Donald's property and transfer it to Bernie? Explain.

Suppose that Donald owns a building that is worth $606 million to him. There is another person in the city, Bernie, who values the building at $1,312 million (we know this to be objectively true). Would it be efficient for the mayor of the city to seize the Donald's property and transfer it to Bernie? Explain.

Operations Research : Applications and Algorithms

4th Edition

ISBN:9780534380588

Author:Wayne L. Winston

Publisher:Wayne L. Winston

Chapter14: Game Theory

Section14.1: Two-person Zero-sum And Constant-sum Games: Saddle Points

Problem 4P

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