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Solution 4(a) If agent B proposes L=V=50, agent C acquires information. Agent C does not acquire information if T, = PI (p, - x) .

Solution 4(a) If agent B proposes L=V=50, agent C acquires information. Agent C does not acquire information if T, = PI (p, - x) . . dx =y PI = (P, - x) . I dx = 8 1 100 [p x - 4x ]81 = 8

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