Consider a guessing game with n people and the person, Ask an Expert

Management Studies

Consider a guessing game with N people, and the person closest to 20 plus one-half of the average is awarded the prize, which is split in the event of a tie. The range of guesses is from 0 to 100. Show that 40 is Nash equilibrium. (Hint: Suppose that N-1 people choose 40 and one person deviates to x < 40. Calculate the target as a function of the deviant’s decision, x. The deviant will lose if the target is greater than the midpoint between x and 40, i.e., if the target is greater than (40 + x)/2. (Check to see if this is the case.)

View complete question

Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91703389

Have any Question?Write your Review or question?

Related Questions in Operation Management

1 what are the characteristics of the organization

1. What are the characteristics of the organization behaviour?. 2. Describe the value proposition that a consumer would consider in evaluating your term project product/service and how branding affects value. 3. Looking ...

1 what do you personally want to see in an organizations

1. What do you personally want to see in an organization's culture? This can be written in first person. Explain the type of environment you personally think would represent a positive, successful organizational culture, ...

1 research at least two articles on the topic of

1. Research at least two articles on the topic of Information systems infrastructure: evolution and trends. Write a brief synthesis and summary of the two articles. How are the topics of the two articles related to the t ...

Taskpepsi or starbuckselect an organization of your choice

TASK: Pepsi or Starbuck Select an organization of your choice and carry out the following tasks. Conduct a research on the marketing and promotional strategies of the organization selected. Your Report should include the ...

Jcx ltd operates in a highly competitive market and is

JCX Ltd operates in a highly competitive market and is involved in the production of parts for the farming industry. It has plants in Auckland, Wellington, Christchurch and Dunedin. One of its plants, the Wellington Plan ...

Discuss investigate and research the following with your

Discuss, investigate, and research the following with your teammates: 1. The current health care system is a mess and the recent rollout of ObamaCare highlights the difficulties for any solution. This week, your team is ...

1 in what ways is your bank of america environmental

1. In what ways is your Bank of America environmental sustainability strategy in the best long-term interest of shareholders? Does it contribute to your company’s competitive advantage or profitability? 2. What are two r ...

Fact patternmarta operated a successful fishing shop she

FACT PATTERN Marta operated a successful fishing shop. She needed a new bait cooler, which had to be in place by May 1 for the first day of fishing season. On February 1, Marta entered into a valid written contract with ...

1 which of the following is not a characteristic of a

1. Which of the following is NOT a characteristic of a passive RFID chip Is always giving off a radio signal Has no power source in itself Sends information to a reader Radio waves give it energy 2. Which of the followin ...

You are the inventor of a new phone app that converts

You are the inventor of a new phone app that converts photographs into a Picasso painting. Your mathematical expertise has created an algorithm based on all of Picasso’s works that will covert any picture into a near per ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Operation Management Expert