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4) (10 points) Two players take part in the following auction for a 1000 TL prize. The two players submit bids simultane
Posted: Fri Jul 01, 2022 7:52 am
by answerhappygod
- 4 10 Points Two Players Take Part In The Following Auction For A 1000 Tl Prize The Two Players Submit Bids Simultane 1 (22.99 KiB) Viewed 27 times
4) (10 points) Two players take part in the following auction for a 1000 TL prize. The two players submit bids simultaneously, and the higher bid wins the prize (if bids are identical each gets 500 TL). Both the winner and the loser have to pay the seller the amount of their bids. The players can bid any nonnegative amount. Show that no Nash equilibrium exists in pure strategies.