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Please also include the game tree Problem 2 (Required, 30 marks) We consider the following market entry games. There are 3 firms and each firm
Please also include the game tree
Problem 2 (Required, 30 marks) We consider the following market entry games. There are 3 firms and each firm can . . .90 decide whether to enter a common market. The revenue of entering the market is - where n is the number of firms entering the market. It is given that e The entering cost of player i is ;. e The value of ; is the private information for player i and other players know that ; has an uniform distribution over the interval (0,40]. Find a symmetric Bayesian Nash equilibrium in which the players of same type adopt the same strategy. That is, s;(c) = s5(c) = s3(c) = s"()Step by Step Solution
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