Question
Consider a guessing game (a modified Beauty Contest) with 10 players where the player closest to 20 plus one-half of the average is awarded the
Consider a guessing game (a modified Beauty Contest) with 10 players where the player closest to 20 plus one-half of the average is awarded the prize, which is split in the event of a tie. The range of guesses is from 0 to 100. The following is a Nash equilibrium: All players guess
a. 0
b. 20
c. 40
d. 60
e. 100
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Basic Economics
Authors: Frank V. Mastrianna
16th edition
1111826641, 978-0357706664, 978-1111826642
