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M
R
C
(p
)
57
1
21
.4
57
1
50
fi
rm
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m
ar
gi
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l c
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t
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4:
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14
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w
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La
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in
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42
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ex
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s�
w
e’
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st
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y�
no
nͲ
co
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er
at
iv
e�
ol
ig
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ie
s�
&
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am
e�
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eo
ry
�&
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at
ch
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ar
te
l�i
n�
ac
tio
n�
m
ov
ie
:
Ͳ
A
�s
m
al
l�a
nd
�fi
xe
d�
nu
m
be
r�
of
�fi
rm
s�
m
ee
t�(
th
er
e�
is
�n
o�
en
tr
y�
an
d�
no
�re
pe
at
ed
�
in
te
ra
ct
io
ns
)
Ͳ
La
te
r�
in
�s
em
es
te
r:
�re
pe
at
ed
�in
te
ra
ct
io
ns
Ͳ
A
ll�
se
ll�
id
en
tic
al
�p
ro
du
ct
s�
(h
om
og
en
eo
us
)
Ͳ
La
te
r�
in
�s
em
es
te
r:
�d
iff
er
en
tia
te
d�
pr
od
uc
ts
Ͳ
Ea
ch
�fi
rm
�in
�a
n�
ol
ig
op
ol
y�
th
in
ks
�th
e�
fo
llo
w
in
g�
ev
er
y�
tim
e�
it�
de
ci
de
s�
its
�a
ct
io
n:
�
“S
in
ce
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k
n
o
w
�m
y�
co
m
p
e
ti
to
rs
�w
il
l�r
e
sp
o
n
d
�to
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y�
a
ct
io
n
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n
d
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in
ce
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k
n
o
w
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h
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y�
k
n
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w
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a
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o
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d
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ir
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o
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se
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th
e
r�t
h
a
n
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e
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a
ss
iv
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,�h
o
w
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h
o
u
ld
�I�
a
ct
�
in
�th
e
�fi
rs
t�p
la
ce
?
Ͳ
Co
nf
us
ed
?�
It
�is
�e
as
y�
to
�g
et
�c
on
fu
se
d�
w
ith
ou
t�u
si
ng
�G
a
m
e
�T
h
e
o
ry
…
Ͳ
G
am
e�
th
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ry
�:�
le
ts
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s�
g
o
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e
yo
n
d
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u
b
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e
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in
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,�f
o
rm
a
li
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s�
th
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n
d
a
m
e
n
ta
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st
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te
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s�
a
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u
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to
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il
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m
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c
t
u
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e
4
–
E
E
P
1
42
J
a
n
31
, 2
0
1
3
V
il
l
a
s
–
B
oa
s-
Le
c
t
ur
e
4
E
E
P
14
2
P
a
g
e
1
C
ol
lu
s
i
o
n
E
xp
er
i
m
en
t
•
H
ow
w
ou
l
d
y
ou
c
ho
os
e
?
•
I
s
a
v
er
ba
l
a
gr
ee
m
en
t t
o
al
l
c
ho
os
e
X
e
no
ug
h
am
on
g
ca
rt
el
m
em
be
rs
?
•
D
oe
s
th
e
ca
rt
el
m
ax
im
iz
e
jo
in
t
p
ro
fit
s
by
c
ho
os
in
g
in
de
pe
nd
en
t
ly
?
•
H
ow
c
ou
ld
th
e
ca
rt
el
r
ea
ch
a
gr
ee
m
en
t t
ha
t a
ll
ch
oo
se
X
?
•
W
ha
t h
ap
pe
ns
if
n
um
be
r
pl
ay
er
s
in
cr
ea
se
s
fr
om
3
, i
s
it
ea
si
er
o
r
ha
rd
er
to
s
us
ta
in
X
fo
r
al
l?
#
w
ho
c
ho
se
X
0
1
2
3
X
0
20
40
60
Y
2
5
61
65
–
E
E
P
p
ro
fit
s
75
10
1
14
5
1
8
0
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
2
C
ar
te
ls
•
C
ar
te
l
m
em
be
rs
b
en
ef
it
fr
om
c
oo
rd
in
at
in
g
th
ei
r
de
ci
si
on
s
(in
ex
pe
rim
en
t b
y
ch
oo
si
ng
X
)
by
r
es
tr
ic
tin
g
ou
tp
ut
to
in
cr
ea
se
m
ar
ke
t
p
ric
e
B
U
T
•
E
ac
h
ca
rt
el
m
e
m
be
r
ha
s
in
ce
nt
iv
es
to
c
he
at
on
th
e
ag
re
em
en
t b
y
in
cr
ea
si
ng
o
ut
pu
t (
in
th
e
ex
pe
rim
en
t b
y
ch
oo
si
ng
Y
g
iv
en
th
at
a
ll
ot
he
rs
c
ho
os
e
X
, a
p
la
ye
r
ea
rn
s
m
or
e,
s
o
he
h
as
in
ce
nt
iv
es
to
b
re
ak
c
ar
te
l a
nd
c
ho
os
e
Y
)
.
•
S
o
m
e
ca
rt
el
s
te
nd
to
b
re
ak
a
pa
rt
e
ve
n
w
ith
ou
t g
ov
er
n
m
en
t
in
te
rv
en
tio
n
.
•
A
re
th
e
ca
rt
el
s
w
e
kn
o
w
o
f t
he
“
un
su
cc
es
sf
ul
”
on
es
o
r
th
e
“u
nl
uc
ky
”
on
es
?
E
xp
er
im
en
t –
yo
u
go
t t
hr
ee
li
nk
s
to
m
ai
n
pa
ge
th
at
r
ea
d
:
“
P
le
as
e
ch
oo
se
b
et
w
ee
n
op
tio
n
X
o
r
Y
T
he
1
c
ol
um
n
in
di
ca
te
s
#
pe
op
le
w
ho
c
ho
se
X
T
he
2
nd
th
e
pa
yo
ff
to
p
eo
pl
e
w
ho
c
ho
se
X
th
e
3r
d
th
e
pa
yo
ff
to
p
eo
pl
e
ch
oo
si
ng
Y
#X
–
—
—
—
X
–
—
—
—
Y
0
—
—
—
—
—
0
—
—
—
–
–
50
1
—
—
—
—
–
–
5
—
—
—
—
55
2
—
—
—
—
-1
0-
—
—
—
–
6
0
3-
—
—
—
—
15
—
—
—
—
65
4-
—
—
—
—
20
—
—
—
—
70
10
–
—
—
–
50
–
—
—
-1
00
20
–
—
—
–
–
10
0
—
—
-1
50
21
–
—
—
–
10
5
—
—
–
15
5
N
–
—
—
—
—
5
N
–
—
–
5
N
+
50
䇾
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P1
42
P
ag
e
3
ov
er
vi
ew
A
na
ly
si
s
Y
X
M
a
le
F
e
m
a
le
N
p
e
rc
e
n
t�X
B
e
fo
re
�L
e
ct
u
re
S
im
u
lt
a
n
e
o
u
s?
g
a
m
e
�1
5
6
2
7
3
4
4
8
8
3
3
2
.5
3
%
Y
e
s
N
o
g
a
m
e
�2
4
5
1
0
2
2
3
2
5
5
1
8
.1
8
%
N
o
N
o
g
a
m
e
�3
4
4
1
3
2
5
3
0
5
7
2
2
.8
1
%
N
o
Y
e
s
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P1
42
P
ag
e
4
N
ex
t
L
ec
tu
re
, i
n
St
at
a,
w
e
w
ill
s
ee
if
g
en
de
r a
ff
ec
ts
p
ro
ba
bi
lit
y
of
ch
oo
si
ng
Y
, a
ls
o
w
h
e
th
er
ty
pe
o
f g
am
e
af
fe
ct
s
pr
ob
ab
ili
ty
o
f c
ho
os
in
g
Y
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
5
D
et
ec
tio
n
of
c
ar
te
ls
–
A
nt
itr
us
t l
aw
s
–
C
ar
te
ls
a
re
il
le
ga
l –
co
m
pa
re
g
ai
ns
w
ith
p
ro
b
a
bi
lit
y
of
b
ei
ng
c
au
gh
t
an
d
pa
yi
ng
a
fi
ne
–
A
ll
O
E
C
D
c
ou
nt
r
ie
s
ha
ve
s
om
e
an
tit
ru
st
a
ut
ho
rit
y
•
E
ur
op
ea
n
C
om
m
is
si
on
e
nf
or
ce
s
an
tit
ru
st
s
ec
tio
ns
o
f t
he
R
om
e
T
re
at
y
•
M
em
be
r
co
un
tr
ie
s
ha
ve
o
w
n
co
m
pe
tit
io
n
co
m
m
is
si
on
s
–
A
s
do
n
on
-O
E
C
D
c
ou
nt
rie
s
li
ke
B
ra
zi
l,
A
rg
en
tin
a,
In
di
a
–
T
he
U
S
D
ep
ar
tm
en
t o
f J
us
tic
e
an
d
th
e
F
ed
er
al
T
ra
de
C
om
m
is
si
on
“p
ro
m
ot
e
an
d
pr
ot
ec
t t
he
c
om
pe
tit
iv
e
pr
oc
es
s”
•
P
ric
e-
fix
in
g
La
w
s:
(
S
he
rm
an
A
ct
o
f 1
89
0,
s
ec
tio
n
1
)
•
M
on
op
ol
iz
at
io
n:
(
S
he
rm
an
A
ct
o
f 1
89
0,
s
ec
t
io
n
2)
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
6
D
et
er
m
in
an
ts
o
f s
uc
ce
ss
fu
l c
oo
pe
ra
tio
n
–
A
bi
lit
y
to
p
ric
e-
fix
in
g:
•
C
ar
te
l p
ro
du
ce
s
a
la
rg
e
sh
ar
e
of
m
ar
ke
t
•
F
ac
es
in
el
as
tic
d
em
an
d
(li
ttl
e
su
bs
tit
ut
es
o
ut
si
de
c
ar
te
l o
r
lit
t
le
e
nt
ry
b
y
fir
m
s
ou
ts
id
e
ca
rt
el
)
•
Lo
w
p
ro
ba
bi
lit
y
of
d
et
ec
tio
n
fr
om
a
nt
i-t
ru
st
a
ut
ho
rit
ie
s
•
Lo
w
o
rg
an
iz
at
io
na
l c
os
ts
–
E
as
y
de
te
ct
io
n
&
qu
ic
k
a
nd
s
ev
er
e
pu
ni
sh
m
en
ts
if
c
he
at
in
g:
•
Li
ttl
e
ch
an
ge
s
in
m
ar
ke
t d
em
an
d,
•
Li
ttl
e
un
ce
rt
ai
nt
y
ab
ou
t f
irm
s’
co
st
s,
•
F
e
w
er
a
nd
s
im
i
la
r
fir
m
s
w
ith
li
ttl
e
pr
od
uc
t d
iff
er
en
tia
t
io
n
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
7
M
ak
in
g
it
di
ff
ic
ul
t f
or
a
m
em
be
r
to
c
he
at
(c
on
t)
–
M
ar
ke
t a
llo
ca
tio
n
sc
he
m
es
(
e.
g.
d
is
tr
ib
ut
e
ge
og
ra
ph
ic
al
a
re
as
to
e
ac
h
m
em
be
r,
s
o
th
at
c
he
at
in
g
is
e
as
ily
d
et
ec
te
d)
–
D
is
tr
ib
ut
e
a
pr
io
ri
m
ar
ke
t
s
ha
re
s
(e
.g
. n
ex
t
O
P
E
C
)
–
M
os
t-
fa
vo
re
d
na
tio
n
cl
au
se
–
M
ee
tin
g
co
m
pe
tit
io
n
cl
au
se
–
T
rig
ge
r
pr
ic
e
re
fe
re
nc
e
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
8
D
ea
dw
ei
gh
t l
os
s
of
c
ar
te
l
•
C
on
su
m
er
s
ga
in
w
he
n
ca
rt
el
fa
ils
•
T
he
la
rg
er
th
e
m
ar
ke
t s
ha
re
o
f t
he
c
ar
te
l t
he
g
re
at
er
th
e
ef
fic
ie
nc
y
co
st
o
f t
he
c
ar
te
l (
se
e
ne
xt
s
lid
es
c
ar
te
l w
ith
5
0,
3
0
an
d
10
fi
r
m
s
an
d
in
th
e
lim
it
no
fi
rm
s
ca
se
s)
•
A
p
ar
tia
l c
ar
te
l i
s
lik
e
th
e
do
m
in
an
t f
irm
w
ith
c
om
pe
tit
iv
e
fr
in
ge
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
9
D
ea
dw
ei
gh
t l
os
s
of
c
ar
te
l w
ith
5
0
fir
m
s
=
m
on
op
ol
y
D
W
L
$
$
M
ar
ke
t d
em
an
d
M
ar
ke
t d
em
an
d
N
on
c
ar
te
l s
up
pl
y
by
2
0
fi
rm
s
Q
Q
10
M
R
C
(p
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C
ar
te
l M
ar
gi
na
l C
os
t =
33
3
28
0
33
.3
C
ar
te
l s
up
pl
y
by
3
0
fi
rm
s
50
fi
rm
’s
m
ar
gi
na
l c
os
t
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
10
D
ea
dw
ei
gh
t l
os
s
of
c
ar
te
l w
ith
3
0
fir
m
s
$
$
S N
C
M
ar
ke
t d
em
an
d
M
ar
ke
t d
em
an
d
N
on
c
ar
te
l s
up
pl
y
by
2
0
fi
rm
s
Q
Q
10
M
R
C
(p
)
C
ar
te
l M
ar
gi
na
l C
os
t
24
0
24
28
0
30
C
ar
te
l s
up
pl
y
by
3
0
fi
rm
s
50
fi
rm
’s
m
ar
gi
na
l c
os
t
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
11
D
ea
dw
ei
gh
t l
os
s
of
c
ar
te
l w
ith
1
0
fir
m
s
$
$
S N
C
M
ar
ke
t d
em
an
d
M
ar
ke
t d
em
an
d
N
on
c
ar
te
l s
up
pl
y
by
4
0
fi
rm
s
Q
Q
10
M
R
C
(p
)
C
ar
te
l M
ar
gi
na
l C
os
t
54
7
21
.63
0
C
ar
te
l s
up
pl
y
by
1
0
fi
rm
s
50
fi
rm
’s
m
ar
gi
na
l c
os
t
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
12
In
th
e
lim
it
if
ca
rt
el
g
et
s
no
fi
rm
s
=
co
m
pe
tit
io
n
$
$
S N
C
M
ar
ke
t d
em
an
d
M
ar
ke
t d
em
an
d
N
on
c
ar
te
l s
up
pl
y
by
a
ll
50
fi
r
m
s
Q
Q
10
M
R
C
(p
)
57
1
21
.4
57
1
50
fi
rm
’s
m
ar
gi
na
l c
os
t
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
13
N
on
-c
oo
pe
ra
tiv
e
ol
ig
op
ol
ie
s
&
G
am
e
Th
eo
ry
:
–
A
s
m
al
l a
nd
fi
xe
d
nu
m
be
r
of
fi
rm
s
m
ee
t (
th
er
e
is
n
o
en
tr
y
an
d
no
re
pe
at
ed
in
te
ra
ct
io
ns
)
–
La
te
r
in
s
e
m
es
te
r:
r
ep
ea
te
d
in
te
ra
ct
io
ns
–
A
ll
se
ll
id
en
tic
al
p
ro
du
ct
s
(h
om
og
en
eo
us
)
–
La
te
r
in
s
em
es
te
r:
d
iff
er
en
tia
te
d
pr
od
uc
ts
–
E
ac
h
fir
m
in
a
n
ol
ig
op
ol
y
t
h
in
ks
th
e
fo
l
lo
w
in
g
ev
er
y
tim
e
it
de
ci
de
s
its
ac
tio
n:
䇾
S
in
ce
I
kn
ow
m
y
co
m
pe
tit
or
s
w
ill
r
es
po
nd
to
m
y
ac
t
io
n
an
d
si
nc
e
I k
no
w
th
at
th
ey
k
no
w
th
at
I
w
ill
r
es
po
nd
to
th
ei
r
re
sp
on
se
r
at
he
r
th
an
b
e
pa
ss
iv
e,
h
ow
s
ho
ul
d
I a
ct
in
th
e
fir
st
p
la
ce
?
–
C
on
fu
se
d?
It
is
e
as
y
to
g
et
c
on
fu
se
d
w
ith
ou
t u
si
ng
G
am
e
Th
eo
ry
…
–
G
am
e
th
eo
ry
:
le
ts
u
s
go
b
ey
on
d
th
is
d
ou
bl
e
gu
es
si
ng
, f
or
m
al
iz
es
th
e
fu
nd
am
en
ta
l s
tr
at
eg
ic
a
sp
ec
ts
a
nd
a
llo
w
s
us
to
g
et
a
n
eq
ui
lib
riu
m
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
14
G
am
e
th
eo
ry
–
G
am
e
th
eo
ry
is
th
e
fo
rm
al
a
na
ly
si
s
of
s
tr
at
eg
ic
be
ha
vi
or
.
–
In
fo
rm
al
d
ef
in
iti
on
:
S
ee
in
g
th
ro
ug
h
th
e
fu
tu
re
.
D
ec
is
io
ns
ta
ke
n
to
da
y
m
ay
ha
ve
a
n
im
pa
ct
o
n
bo
th
m
y
ow
n
an
d
m
y
co
m
pe
tit
or
s’
fu
tu
re
d
ec
is
io
ns
.
S
ee
in
g
th
ro
ug
h
yo
ur
c
om
pe
tit
or
s’
ey
es
.
O
ut
co
m
es
d
ep
en
d
no
t o
nl
y
on
y
ou
r
de
ci
si
on
s
bu
t a
ls
o
on
y
ou
r
co
m
pe
tit
or
s’
de
ci
si
on
s.
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P1
42
P
ag
e
15
L
in
k
to
b
at
tle
o
f t
he
w
its
Pr
in
ce
ss
b
ri
de
:
ht
tp
://
w
w
w
.y
ou
tu
be
.c
om
/w
at
ch
?v
=b
-i
bc
E
Jj
_K
I
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
16
E
xa
m
pl
e:
o
il
pr
od
uc
tio
n
by
R
us
si
a
an
d
O
P
E
C
.
–
R
us
si
a
䇻
s
oi
l o
ut
pu
t
h
as
s
ur
ge
d
th
is
y
ea
r
by
a
bo
ut
5
00
,0
00
ba
rr
el
s
a
da
y,
a
nd
is
e
xp
ec
te
d
to
r
is
e
by
a
n
ad
di
tio
na
l
35
0,
00
0
ba
rr
el
s
ne
xt
y
ea
r.
–
O
P
E
C
p
ro
du
ct
io
n
m
ea
nw
hi
le
h
as
d
ro
pp
ed
b
y
ab
ou
t 3
.5
m
ill
io
n
ba
rr
el
s
a
da
y,
a
nd
O
P
E
C
is
w
or
rie
d
ab
ou
t l
os
in
g
m
ar
ke
t s
ha
re
to
R
us
si
a.
–
O
P
E
C
w
ou
ld
li
ke
R
us
si
a
to
jo
in
o
th
er
n
on
-O
P
E
C
o
il
pr
od
uc
in
g
co
un
tr
ie
s,
li
ke
N
or
w
ay
a
nd
M
ex
ic
o,
th
at
a
gr
ee
to
sc
al
e
ba
ck
e
xp
or
ts
to
k
ee
p
pr
ic
es
a
bo
ve
$
20
/b
ar
re
l.
–
O
P
E
C
is
th
re
at
en
in
g
a
pr
ic
e
w
ar
if
R
us
si
a
do
es
n䇻
t s
ca
le
ba
ck
p
ro
du
ct
io
n.
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
17
O
P
E
C
䇻
s
an
d
R
us
si
a䇻
s
de
ci
si
on
s.
–
B
ot
h
O
P
E
C
a
nd
R
us
si
a
ar
e
fa
ci
ng
d
ec
is
io
ns
a
bo
ut
h
ow
m
uc
h
oi
l t
o
ex
po
rt
in
th
e
co
m
in
g
ye
ar
.
–
T
he
p
ay
of
fs
fr
om
th
ei
r
de
ci
si
on
s
de
pe
nd
o
n
w
ha
t t
he
ot
he
r
do
es
:
R
us
si
a䇻
s
M
ov
e
O
P
E
C
䇻
s
M
ov
e
R
us
si
a䇻
s
P
ay
of
f
O
P
E
C
䇻
s
P
ay
of
f
E
xp
an
d
E
xp
an
d
-$
1
B
ill
io
n
-$
6B
E
xp
an
d
H
ol
d
st
ea
dy
$3
.5
B
-$
3B
H
ol
d
st
ea
dy
E
xp
an
d
-$
1.
5B
$1
B
H
ol
d
st
ea
dy
H
ol
d
st
ea
dy
$0
B
$0
B
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
18
G
am
e
tr
ee
.
E
xp
an
d
H
ol
d
E
xp
an
d
E
xp
an
d
R
us
si
a
H
ol
d
H
ol
d
O
P
E
C
O
P
E
C
(-
1,
-6
)
(3
.5
,-
3)
(-
1.
5,
1)
(0
,0
)
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
19
B
as
ic
c
on
ce
pt
s.
W
ha
t i
s
a
ga
m
e?
–
P
la
ye
rs
(
e.
g.
, R
us
si
a
an
d
O
P
E
C
).
–
R
ul
es
(
e.
g.
, s
eq
ue
nt
ia
lly
c
ho
os
in
g
ou
tp
ut
).
–
S
tr
at
eg
ie
s
(e
.g
.,
ho
ld
s
te
ad
y
or
e
xp
an
d)
.
–
P
ay
of
fs
(
e.
g.
, r
ev
en
ue
m
in
us
p
ro
du
ct
io
n
co
st
s)
.
W
ha
t c
an
I
do
w
ith
it
?
–
D
et
er
m
in
e
ho
w
g
oo
d
ea
ch
o
f m
y
st
ra
te
gi
es
is
.
–
F
ig
ur
e
ou
t w
ha
t m
y
riv
al
is
p
ro
ba
bl
y
go
in
g
to
d
o.
–
T
hi
nk
a
bo
ut
w
ay
s
to
c
ha
ng
e
th
e
ga
m
e
to
m
y
ad
va
nt
ag
e
(e
.g
. b
y
m
ak
in
g
a
si
m
ul
ta
ne
ou
s
ga
m
e
se
qu
en
tia
l).
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
20
H
ow
to
r
ep
re
se
nt
a
g
am
e.
E
xt
en
si
ve
o
r
ga
m
e-
tr
ee
fo
rm
:
–
D
ec
is
io
n
tr
ee
s
w
ith
n
od
es
fo
r
co
m
pe
tit
or
䇻
s
de
ci
si
on
s.
–
T
he
se
a
re
m
os
t u
se
fu
l w
he
n
de
ci
si
on
s
ar
e
se
qu
en
tia
l.
N
or
m
al
fo
rm
:
–
T
he
se
a
re
m
os
t u
se
fu
l w
he
n
de
ci
si
on
s
ar
e
m
ad
e
si
m
ul
ta
ne
ou
sl
y
(o
r
w
he
n
fir
m
s
do
n䇻
t o
bs
er
ve
th
ei
r
co
m
pe
tit
or
s䇻
de
ci
si
on
s)
.
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
21
N
or
m
al
fo
rm
: e
xa
m
pl
e.
19 2
8 2 3
1
5
0 3
6
7
3
5
6
7
6
8
L
C
R
T M B
P
la
ye
r
B
P
la
ye
r A
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
22
D
om
in
an
t a
nd
d
om
in
at
ed
s
tr
at
eg
ie
s.
In
a
d
om
in
an
t s
tr
at
eg
y,
y
ou
r
pa
yo
ff
is
g
re
at
er
th
an
an
y
ot
he
r
st
ra
te
gy
r
eg
ar
dl
es
s
of
y
ou
r
riv
al
䇻
s
ch
oi
ce
.
R
ul
e
1:
A
lw
ay
s
ch
oo
se
a
d
om
in
an
t s
tr
at
eg
y
if
th
er
e
is
on
e.
In
a
d
om
in
at
ed
s
tr
at
eg
y,
y
ou
r
pa
yo
ff
is
lo
w
er
th
an
so
m
e
ot
he
r
st
ra
te
gy
r
eg
ar
dl
es
s
of
y
ou
r
riv
al
䇻
s
ch
oi
ce
.
R
ul
e
2:
N
ev
er
c
ho
os
e
a
do
m
in
at
ed
s
tr
at
eg
y.
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
23
E
qu
ili
br
iu
m
.
–
S
o
m
et
im
es
a
g
am
e
ca
n
be
s
ol
ve
d
si
m
pl
y
by
fi
nd
in
g
th
e
do
m
in
an
t a
nd
d
om
in
at
ed
s
tr
at
eg
ie
s
(e
.g
.,
th
e
ex
am
pl
e
ab
ov
e)
.
–
H
ow
ev
er
, t
he
re
a
re
m
an
y
ga
m
es
fo
r
w
hi
ch
th
is
d
oe
s
no
t
w
or
k.
In
a
N
as
h
E
qu
ili
br
iu
m
no
p
la
ye
r
w
an
ts
to
c
ha
ng
e
hi
s/
he
r
st
ra
te
gy
u
ni
la
te
ra
lly
, g
iv
en
w
ha
t t
he
o
th
er
p
la
ye
rs
h
av
e
ch
os
en
.
•
G
am
es
c
an
h
av
e
no
p
ur
e
st
ra
te
gy
e
qu
ili
br
ia
, o
r
•
M
ul
tip
le
e
qu
ili
br
ia
.
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
24
Th
e
pr
is
on
er
䇻
s
di
le
m
m
a.
P
ri
so
ne
r
1
Li
e
C
on
fe
ss
Li
e
C
on
fe
ss
-1
-5
0
-2
.5
-1
0
-5
P
ri
so
ne
r
2
-2
.5
Le
ct
ur
e
5
E
xa
m
pl
e
of
a
g
ro
up
p
ro
je
ct
O
P
E
C
c
on
tin
fr
om
to
da
y
P
le
as
e
br
in
g
co
m
pu
te
r
In
tr
od
uc
tio
n
to
s
ta
ta
V
ita
m
in
s
ca
rt
el
in
a
ct
io
n
S
ca
m
b
us
te
rs
–
Li
bo
r
R
at
es
–
E
co
no
m
is
t a
rt
ic
le
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P1
42
P
ag
e
25
Le
ct
ur
e
4/
5:
E
xa
m
pl
e
of
P
ro
je
ct
fo
r
E
E
P
1
42
B
rie
f b
ac
kg
ro
un
d
O
P
E
C
v
. C
IP
E
C
w
hy
O
P
E
C
w
or
ks
, a
nd
w
hy
C
IP
E
C
d
id
n
ot
A
LR
E
A
D
Y
D
O
N
E
I
P
R
E
V
IO
U
S
L
E
C
T
U
R
E
S
: O
P
E
C
in
A
ct
io
n
an
d
us
e
D
om
in
an
t F
irm
F
r
in
ge
m
od
el
a
s
in
p
re
vi
ou
s
sl
id
es
to
in
ve
st
ig
at
e
D
ea
dw
ei
gh
t l
os
s
of
O
P
E
C
u
nd
er
a
lte
rn
at
iv
e
po
lic
ie
s
an
d
de
m
an
d
sc
en
ar
io
s,
th
at
w
e
di
d
in
L
ec
tu
re
3
A
lte
rn
at
iv
es
to
O
P
E
C
C
on
cl
us
io
n
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P1
42
P
ag
e
26
O
P
E
C
•
T
he
O
rg
an
iz
at
io
n
of
th
e
P
et
ro
le
um
E
xp
or
tin
g
C
ou
nt
rie
s
(O
P
E
C
)
is
a
p
er
m
an
en
t,
in
te
rg
ov
er
nm
en
ta
l o
rg
an
iz
at
io
n,
c
re
at
ed
a
t t
he
B
ag
hd
ad
C
on
fe
re
nc
e
on
S
ep
te
m
be
r
10
–1
4,
19
60
, b
y
Ir
an
, I
ra
q,
K
uw
ai
t,
S
au
di
A
ra
bi
a
an
d
V
en
ez
ue
la
•
“O
P
E
C
‘s
o
bj
ec
tiv
e
is
to
c
o-
or
di
na
te
a
nd
u
ni
fy
p
et
ro
le
u
m
p
ol
ic
ie
s
am
on
g
M
em
be
r
C
ou
nt
rie
s,
in
o
rd
er
to
s
ec
ur
e
fa
ir
an
d
st
ab
le
pr
ic
es
fo
r
pe
tr
ol
eu
m
p
ro
du
ce
rs
; a
n
ef
fic
ie
nt
,
e
co
no
m
ic
a
nd
re
gu
la
r
su
pp
ly
o
f p
et
ro
le
um
to
c
on
su
m
in
g
na
tio
ns
; a
nd
a
fa
ir
re
tu
rn
o
n
ca
pi
ta
l t
o
th
os
e
in
ve
st
in
g
in
th
e
in
du
st
ry
.”
–
op
ec
.o
rg
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P1
42
P
ag
e
27
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
28
O
P
E
C
•
O
rg
an
iz
at
io
n
of
P
et
ro
le
um
E
xp
or
tin
g
C
ou
nt
rie
s
•
Q
ua
dr
up
le
d
th
e
w
or
ld
p
ric
e
in
iti
al
ly
•
H
ad
2
/3
o
f w
or
ld
o
il
re
se
rv
es
a
nd
n
on
-c
om
m
un
is
t
w
or
ld
p
ro
du
ct
io
n
=>
la
rg
e
m
ar
ke
t s
ha
re
•
O
P
E
C
fa
ce
s
a
re
la
tiv
el
y
in
el
as
tic
fr
in
ge
s
up
pl
y
cu
rv
e,
th
at
is
d
es
pi
te
o
il
pr
ic
e
in
cr
ea
se
s
no
n-
O
P
E
C
p
ro
du
ce
rs
h
av
e
no
t m
an
ag
ed
to
in
cr
ea
se
pr
od
uc
tio
n
su
bs
ta
nt
ia
lly
H
is
to
ry
o
f O
P
E
C
O
P
E
C
w
as
fo
un
de
d
in
B
ag
hd
ad
in
r
es
po
ns
e
to
a
1
96
0
la
w
in
st
itu
te
d
by
A
m
er
ic
an
P
re
si
de
nt
D
w
ig
ht
E
is
en
ho
w
er
.
T
he
la
w
fo
rc
ed
q
uo
ta
s
on
V
en
ez
ue
la
n
an
d
P
er
si
an
G
ul
f o
il
im
po
rt
s,
p
re
fe
rr
in
g
th
e
C
an
ad
ia
n
an
d
M
ex
ic
an
o
il
in
du
st
rie
s
A
ss
er
ts
it
s
m
em
be
r
co
un
tr
ie
s䇻
rig
ht
s
in
g
lo
ba
l o
il
m
ar
ke
t d
om
in
at
ed
b
y
ot
he
rs
.
M
em
be
rs
hi
p
gr
ew
to
1
0
na
tio
ns
A
n
oi
l p
ric
in
g
cr
is
es
le
ad
s
to
a
s
te
ep
in
cr
ea
se
in
th
e
pr
ic
e
of
c
ru
de
o
il
(1
97
3-
74
)
In
th
e
ei
gh
tie
s,
a
s
te
ad
y
de
cl
in
e
in
p
ric
es
le
d
to
a
w
ar
en
es
s
of
th
e
ne
ed
fo
r
jo
in
t
ac
tio
n
am
on
g
oi
l p
ro
du
ce
rs
E
nv
iro
nm
en
ta
l i
ss
ue
s
be
gi
n
to
a
pp
ea
r
on
th
e
in
te
rn
at
io
na
l a
ge
nd
a
Ill
eg
al
?
T
ho
ug
h
ca
rt
el
s
ar
e
te
ch
ni
ca
lly
il
le
ga
l,
no
o
ne
h
as
b
ee
n
ab
le
to
s
hu
t
O
P
E
C
d
ow
n
O
P
E
C
is
o
pe
ra
te
d
by
n
at
io
na
l g
ov
er
nm
en
ts
a
nd
is
r
ec
og
ni
ze
d
as
a
le
ga
l e
nt
ity
by
U
.S
. f
or
ei
gn
tr
ad
e
la
w
s.
O
P
E
C
h
ol
ds
s
um
m
its
in
V
ie
nn
a
an
d
m
ee
ts
p
ub
lic
ly
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P1
42
P
ag
e
29
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P
14
2
P
ag
e
30
E
xa
m
pl
e
C
IP
E
C
–
di
ff
er
en
t s
to
ry
in
te
rm
s
of
m
ar
ke
t p
ow
er
r
el
at
iv
el
y
O
P
E
C
•
In
te
rn
at
io
na
l C
ou
nc
il
of
C
op
pe
r
E
xp
or
tin
g
C
ou
nt
rie
s
•
C
on
se
il
in
te
rg
ou
ve
rn
em
en
ta
l d
es
p
ay
s
ex
po
rt
at
eu
rs
d
e
cu
iv
re
•
ha
s
be
en
u
na
bl
e
to
r
ai
se
c
op
pe
r
pr
ic
es
s
ig
ni
fic
an
tly
•
H
ad
1
/3
o
f w
or
ld
n
on
-c
om
m
un
is
t
c
op
pe
r
pr
od
uc
tio
n
=>
s
m
al
l m
ar
ke
t s
ha
re
•
C
IP
E
C
fa
ce
s
a
re
la
tiv
el
y
el
as
tic
fr
in
ge
s
up
pl
y
cu
rv
e,
th
at
is
w
he
n
co
pp
er
p
ric
e
in
cr
ea
se
s
no
n-
C
IP
E
C
pr
od
uc
er
s
ar
e
ab
le
to
in
cr
ea
se
p
ro
du
ct
io
n
su
bs
ta
nt
ia
lly
(
pr
od
uc
ed
fr
om
s
cr
ap
)
C
IP
E
C
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P1
42
P
ag
e
31
•
19
67
-1
98
8
(1
2
ye
ar
s)
•
C
om
po
se
d
of
C
hi
le
,
Pe
ru
,
Z
ai
re
,
Z
am
bi
a,
A
U
S,
In
do
ne
si
a,
Y
ug
os
la
vi
a,
an
d
Pa
pu
a
N
ew
G
ui
ne
a
(8
co
un
tr
ie
s)
•
C
op
pe
rd
em
an
d
is
ve
ry
el
as
tic
so
it
fa
ile
d
•
In
19
74
m
em
be
rs
䇾
ch
ea
te
d䇿
an
d
di
d
no
t
re
du
ce
pr
od
uc
tio
n
as
m
uc
h
as
w
as
ag
re
ed
up
o
n
in
th
ei
rc
on
tr
ac
t
O
P
E
C
a
nd
C
IP
E
C
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P1
42
P
ag
e
32
O
P
E
C
C
IP
E
C
W
or
ld
d
em
an
d
fo
r
cr
ud
e
ve
ry
in
el
as
tic
W
or
ld
d
em
an
d
fo
r
co
pp
er
el
as
tic
W
he
n
fir
st
fo
rm
ed
h
el
d
2/
3
of
w
or
ld
o
il
re
se
rv
es
H
el
d
1/
3
of
w
or
ld
䇻
s
no
n-
co
m
m
un
is
t c
op
pe
r
pr
od
uc
tio
n
In
iti
al
ly
O
P
E
C
q
ua
dr
up
le
d
w
or
ld
oi
l p
ric
e
U
na
bl
e
to
r
ai
se
c
op
pe
r
pr
ic
es
F
ac
es
r
el
at
iv
el
y
in
el
as
tic
fr
in
ge
su
pp
ly
D
em
an
d
fo
r
co
pp
er
e
la
st
ic
(r
ec
yc
la
bl
e
an
d
su
bs
tit
ut
ab
le
)
C
on
tin
ui
ng
C
ol
la
ps
ed
in
1
98
8
O
P
E
C
in
a
ct
io
n
-2
00
7
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P1
42
P
ag
e
33
O
il
pr
ic
e
re
ac
he
d
hi
gh
es
t p
oi
nt
in
J
ul
y
20
08
($
14
5)
O
P
E
C
r
es
er
ve
s
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P1
42
P
ag
e
34
O
PE
C
䇻
s
ab
ili
ty
to
co
nt
ro
lo
il
pr
ic
es
ha
s
di
m
in
is
he
d
so
m
ew
ha
ts
in
ce
19
71
D
is
co
ve
ry
an
d
de
ve
lo
pm
en
to
f
la
rg
e
oi
lr
es
er
ve
s
in
th
e
G
ul
f
of
M
ex
ic
o
an
d
th
e
N
or
th
Se
a,
an
d
th
e
op
en
in
g
up
of
R
us
si
an
oi
lr
es
er
ve
s
(n
ex
tl
ec
tu
re
)
O
il
pr
od
uc
in
g
co
un
tr
ie
s
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P1
42
P
ag
e
35
H
ow
O
il
P
ri
ce
s
A
ff
ec
t t
he
G
lo
ba
l
E
co
no
m
y
H
ow
d
ep
en
de
nt
is
a
c
ou
nt
ry
o
n
im
po
rt
ed
o
il?
W
ha
t i
s
th
e
ab
ili
ty
o
f c
on
su
m
er
s
to
d
ec
re
as
e
co
ns
um
pt
io
n,
o
r
sw
itc
h
to
al
te
rn
at
iv
es
?
N
et
e
ffe
ct
o
n
th
e
w
or
ld
e
co
no
m
y
of
O
P
E
C
䇻
s
m
aj
or
p
ric
e
in
cr
ea
se
s
ha
s
al
w
ay
s
be
en
n
eg
at
iv
e
O
il
ac
tiv
ity
a
cc
ou
nt
s
fo
r
1%
o
f G
D
P
o
f O
E
C
D
c
ou
nt
rie
s
F
or
D
ev
el
op
in
g
C
ou
nt
rie
s
im
pa
ct
m
or
e
pr
om
in
en
t t
ha
n
in
O
E
C
D
c
ou
nt
rie
s
E
co
no
m
ie
s
m
or
e
fr
ag
ile
, o
il
in
te
ns
iv
e
an
d
en
er
gy
in
te
ns
iv
e
m
an
uf
ac
tu
rin
g
O
il
ac
co
un
ts
fo
r
a
la
rg
er
s
ha
re
o
f G
D
P
–
ar
ou
nd
3
%
In
ef
fic
ie
nc
y
–
tw
o
tim
es
th
e
oi
l f
or
s
am
e
ou
tp
ut
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P1
42
P
ag
e
36
A
lte
rn
at
iv
es
to
O
P
E
C
•
C
ha
ng
e
fle
et
of
ca
rs
,
e.
g.
,
H
ib
rid
ve
hi
cl
es
H
E
V
s
re
du
ce
em
is
si
on
s
an
d
fu
el
us
e
th
ro
ug
h
in
cr
ea
se
d
fu
el
ec
on
om
y
•
B
io
fu
el
s:
P
ro
du
ce
d
fr
om
liv
in
g
or
ga
ni
sm
s
or
m
et
ab
ol
ic
by
-p
ro
du
ct
s
(o
rg
an
ic
or
fo
od
w
as
te
pr
od
uc
ts
)
T
o
be
co
ns
id
er
ed
a
bi
of
ue
l,
th
e
fu
el
m
us
t
co
nt
ai
n
ov
er
80
%
re
ne
w
ab
le
m
at
er
ia
ls
,s
til
lw
or
k-
in
-p
ro
gr
es
s
Im
pa
ct
on
bi
o-
di
ve
rs
ity
?N
et
ef
fe
ct
is
a
re
du
ct
io
n
in
gr
ee
nh
ou
se
ga
s
w
he
n
co
m
pa
re
d
to
䇾
tr
ad
iti
on
al
䇿
fu
el
s?
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P1
42
P
ag
e
37
S
ha
re
o
f b
io
fu
el
p
ro
du
ct
io
n
in
to
ta
l r
oa
d-
fu
el
m
ar
ke
t
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P1
42
P
ag
e
38
Ta
r
S
an
ds
T
ar
S
an
ds
(
O
il
S
an
ds
)
ar
e
m
ad
e
up
o
f c
la
y,
s
an
d,
w
at
er
an
d
bi
tu
m
en
(
a
he
av
y
bl
ac
k
oi
l)
T
he
y
ar
e
m
in
ed
a
nd
th
en
re
fin
ed
in
to
o
il
T
he
m
in
in
g
pr
oc
es
s
is
fa
r
m
or
e
co
m
pl
ex
a
nd
e
xp
en
si
ve
t
ha
n
m
in
in
g
co
nv
en
tio
na
l o
il
T
he
la
rg
es
t d
ep
os
its
a
re
in
C
an
ad
a
an
d
V
en
ez
ue
la
V
ill
as
-B
oa
s-
Le
ct
ur
e
4
E
E
P1
42
P
ag
e
39
C
on
cl
us
io
n
O
il
de
m
an
d
is
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Le
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5:
n
on
-c
oo
pe
ra
tiv
e
ol
ig
op
ol
ie
s
&
G
am
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Th
eo
ry
&
w
at
ch
a
m
ov
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:
–
A
s
m
al
l a
nd
fi
xe
d
nu
m
be
r
of
fi
rm
s
m
ee
t (
th
er
e
is
n
o
en
tr
y
an
d
no
re
pe
at
ed
in
te
ra
ct
io
ns
)
–
La
te
r
in
s
em
es
te
r:
r
ep
ea
te
d
in
te
ra
ct
io
ns
–
A
ll
se
ll
id
en
tic
al
p
ro
du
ct
s
(h
om
og
en
eo
us
)
–
La
te
r
in
s
em
es
te
r:
d
iff
er
en
tia
te
d
pr
od
uc
ts
–
E
ac
h
fir
m
in
a
n
ol
ig
op
ol
y
th
in
ks
th
e
fo
llo
w
in
g
ev
er
y
tim
e
it
de
ci
de
s
its
ac
tio
n:
䇾
S
in
ce
I
kn
ow
m
y
co
m
pe
tit
or
s
w
ill
r
es
po
nd
to
m
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ac
tio
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an
d
si
nc
e
I k
no
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k
no
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th
at
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ill
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es
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nd
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th
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sp
on
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at
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th
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pa
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iv
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h
ow
s
ho
ul
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I a
ct
in
th
e
fir
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p
la
ce
?
–
C
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d?
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is
e
as
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to
g
et
c
on
fu
se
d
w
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ou
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si
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G
am
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Th
eo
ry
…
–
G
am
e
th
eo
ry
:
le
ts
u
s
go
b
ey
on
d
th
is
d
ou
bl
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gu
es
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or
m
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M
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ex
t o
f C
ar
te
l i
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ac
tio
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Li
nk
:
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b
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g
to
c
la
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vi
de
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to
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pl
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Y
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M
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D
am
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ta
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C
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am
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ca
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lo
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w
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Ly
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Ly
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Ly
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Le
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P
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