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Q3 Guess 5/6 of the Average Game A hlmdred players are participating in this game (N = 100). Each player has to choose an integer
Q3 Guess 5/6 of the Average Game A hlmdred players are participating in this game (N = 100). Each player has to choose an integer between 1 and 100 in order to guess \"5/6 of the average of the responses given by all players\". Each player who guesses the integer closest to the 5/6 of the average of all the responses, wins. (a) Find all weakly dominated strategies [if any). (h) Find all strategies that survive the Iterative Elimination of Dominated Strategies [IEDSJI (if any}- Q4 Model of Politics Suppose that there are two candidates and they have to choose their political positions for an election. The political spectrum has 10 positions (from the far left [1) to the far right [10)] {123456789m} Assmne that there are 1U% of voters at each of these 10 positions (voters are 1miformly dis tributed]. Voters vote for the closest candidate. If there is a tie voters split evenly, i.e., half the voters at that position go for one of the candidates and half of them go for the other. Candidates aim to maximize their share of the votes (so a candidate's payoff is the percentage of voters who voted for the candidate). (a) Find all dominant strategies (if any] (h) Find all dominated strategies (if any) (c) Find all strategies that can be eliminated by IEDS [if any)
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