A selfless person approaches Jones and Smith with a $100 bill and offers to sell it to the highest bidder, but both the winning and losing bidders must pay her their bids. So if Jones bids $2 and Smith bids $1 they pay a total of $3, but Jones gets the money, leaving him with a net gain of $98 and Smith win -$1. If both bid the same amount, the $100 is split evenly between them. Assume that each of them has only two $1 bills on hand, leaving three possible bids: $0, $1, or $2. Write out the payoff matrix for this game, and then find its Nash equilibrium.
- 9 years ago
- how do you calculate the area of a triangular prism?
- The officers of a high school senior class are planning to rent buses and vans for a class trip. Each...
- what is a married joint
- What are the techniques used in the poem 'The London Breed' by Benjamin Zephaniah
- Find the intercepts of the equation's graph. 2x+y=-2
- Who wants to help me complete a Chemistry study guide? I have 22 questions... I will do half and you...
- http://img822.imageshack.us/img822/1779/img010ox.jpg http://img94.imageshack.us/img94/7044/img011jr.jpg http://img35.imageshack.us/img35/5051/img012tu.jpg http://img718.imageshack.us/img718/9656/img013qb.jpg K, so its read the story and answer the q
- Judy's Fashions, Inc. purchases supplies from a single supplier on terms of 1/10, net 20. currently, Judy takes the...
- How do you find lcm and gcf