(6-7) We ran an experiment in class for which the instructions read approximatel
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Question
(6-7) We ran an experiment in class for which the instructions read approximately as follows: "You will be randomly matched with another student in the room to play a game. You and that student have received identical instructions. The task of each of you is to choose a whole number between 1 and 100. You must thus choose one of the numbers 1, 2, 3, .. and so on, up to the number 100. The student who chooses the lowest number among the two will win as many points as he or she chose. If there is a tie for the lowest number, then each will earn half as many points as the chosen number. A student who does not choose the lowest number among the two chosen numbers will not get any points at all." 6. Two students were matched and chose x and y. Which of the following values of r and y is this consistent with Nash equilibrium play if the players are selfish (maximize own earnings)? 2 B.x-)-10 C.x-y-100 D.x=99,100 E.any x and yExplanation / Answer
6) As they are selfish and considered about their own welfare than both of them will choose 2, the lowest number. So that he will not loose. Therefore, the answer is x=y=2.
8) The game may end with a tie/draw.
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