Guessing the class average game: Suppose we have 30 students enrolled in intermediate microeconomics class and...

Guessing the class average game:

Suppose we have 30 students enrolled in intermediate microeconomics class and everyone participates in the game to guess the class average. Each student can pick an integer between 0 and 100( with 0 and 100 included), whoever picks the number that is closest to the class average( calculated from all the guessed numbers) will be the winner(s). What is (are) the Nash Equilibrium( Equilibria) for this game? Explain.(1 point)

Guessing the 1/3 of class average game:

Suppose we have 30 students enrolled in intermediate microeconomics class and everyone participates in the game to guess the 1/3 of class average. Each student can pick an integer between 0 and 100( with 0 and 100 included), whoever picks the number that is closest to the 1/3 of class average( calculated from all the guessed numbers) will be the winner(s). What is (are) the Nash Equilibrium( Equilibria) for this game? Explain.(1 point)

Expert Solution

Guessing the 1/3 of class average game:

Rahul Sunny answered 1 year ago

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