Question

You and 9 of your wealthy friends attend a political fundraiser. You each can donate up to $1,000,000 to the candidate. Let M be the sum of all 10 donations; it is convenient to write M=M_i+M_-i, where Mi is the donation by person i, and M_-i is the sum of the donations by the other people. Suppose Adelsoros wants to have as much money as possible be donated. He will still offer to donate $1,000,000 as long as the sum from the first 10 donors is at least X.

How high can X be so that there is still a Nash equilibrium in which everyone donates? Explain.

Answer 1

1.

Market research can be categorized into two major categories namely primary and secondary research.

Primary research is the one which provides direct feedback/opinion of the population that needs to be analyzed. It is the research which undergoes first-hand data. This is because the reliability and validity of primary data is more which makes the conclusions more accurate. However, the reliability and validity are subject to the research ethics being followed properly.

The examples of primary data collection methods are:

Survey

Personal interview

Observations

Secondary research is the one which is not based on primary data. It is the data that is taken from various sources such as company’s website, newspapers, and other sources. The reliability of this data is subjected to the accuracy of the source from where it is taken.

Some examples of secondary sources are:

Already existing research works

Magazines

Newspapers

Websites