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Most people who come to the club come to see and be seen by others.There is 10 hardcore customers per evening who eat there and
Most people who come to the club come to see and be seen by others.There is 10 hardcore customers per evening who eat there and don't care how many other people come.The number of additional customer who appear at the club depends on how many people they expect to see.If people expect that the number of customers at the club in an evening is X, then the number of people who actually come to the club is 48+0.40X.
What is the long-run equilibrium attendance for this club?
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