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Question; Consider the following situation; two individuals are asked to simultaneously sumbit an integer number between 0 and 5. the winner of the contest is
Question; Consider the following situation; two individuals are asked to simultaneously sumbit an integer number between 0 and 5. the winner of the contest is the person whose number is closet to p-times the average of all numbers submitted. the winner gets a pize of 100, the other participants get 0. if there are more winners the prize is split between them.
- assumssing p=1 find all nash equilibria in pure strategies.
- find all nash equailibra when p>1
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