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Question 18 6 pts Consider a game with a large number of participants. Each person submits an integer number between t] and 93. The winner
Question 18 6 pts Consider a game with a large number of participants. Each person submits an integer number between t] and 93. The winner of the game is the person whose bid is closest to Btl'tra of the average bid- If two or more people submit the winning bid, they share the prize. Someone who expects others to choose randomly is a level-1 player. Someone who thinks others are leyel-1 players is a level-2 player. etc. In the Nash equilibrium of this game. the winning bid is '3 . \"there is only one winner and that person is a leyel4 player. the winning bid would be 2'3 . Based on experiments described in Section 13.6 of the textbook. I would expect the winning bid to be 35
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