3 ms·
I wonder if there's two equilibria here - at low levels of robbery, there's a Nash equilibrium (law enforcement and robbers as predator/prey). However, because
by caf 14y ago
I wonder if there's two equilibria here - at low levels of robbery, there's a Nash equilibrium (law enforcement and robbers as predator/prey). However, because there's a limit on how much police and prosecution resources can ultimately be increased, eventually the robberies overwhelm law enforcement and you reach an equilibrium at a high level of robbery limited only by the availability of potential robbers.