Question
N people guess an integer between 1 and 100, and the
winner is the player whose guess is closest to 2 times the mean of the guesses. What is the equilibrium in this case?Solution
Each player’s best response is to announce a number closest to twice the average, subject to the Constraint of the 100. So, each person wants to name a number above average, and so nothing is stable except all saying 100.
- How many countries are expected to participate in the INIOCHOS-25 exercise?
Mission Basundhara 3.0, launched by Assam, focuses on providing:
Which company collaborates with the National Education Society for Tribal Students (NESTS) to roll out the plan Future Engineers?
Who will unveil the crest of the Indian Navy's latest warship 'Surat'?
- Where is the Bank of Maharashtra’s first international branch being established?
EPFO invests in ETFs that mirror the performance of prominent indices like BSE Sensex and Nifty 50. Additionally, EPFO also invests in ETFs that are c...
SBI has issued additional tier-1 (AT1) bonds worth a total of Rs 6,872 crore at a cut-off of how many %?
Consider the following statements about an Initiative “ Niveshak Didi ”:
I . This initiative was launched by India Post Payments Bank .
...How many goals did India score against Japan to win the women's Asian Champions Trophy hockey title?
According to budget 2023, how many tourism destinations have been selected for development?