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The total prize money is npi, n > 0. If the set W consists of m 1 winners, each winner receives a prize equal to
The total prize money is npi, n > 0. If the set W consists of m 1 winners, each winner receives a prize equal to npi/m. Suppose that there are n participants in the contest and each choose a number xi [a,b]. show the nash equilibrium outcome is xi = a when p<1 for all i and is xi = b when p> 1
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International Economics
Authors: Dominick Salvatore
11th edition
978-1118177938, 1118177932, 1119915732, 978-1118476017, 1118476018, 978-1119915737
