Game theoretic aspects of crowd renting

Abstract

Politicians and businessmen use various strategies to outwit their opponents. One such strategy is crowd renting, a powerful virtual strategy. A mathematical model developed by Nwobi-Okoye using game theory is used to show that crowd renting would always be the equilibrium strategy in strategic interactions involving political actors and businesses, provided the cost of using such strategies does not exceed a certain critical threshold where using it would no longer be the equilibrium strategy. It is equally shown that crowd renting would improve the electoral/business fortunes of parties/candidates/businesses and queuing system performance by increasing the number of possible voters or customers as the case may be. Finally it is shown mathematically that delaying voting in opposition strongholds or delaying the start of business by an opponent makes the opposition or opponent less likely to win.

Keywords: Crowd renting; Game theory; Equilibrium; Virtual strategy