Find all nash equilibria, The magazine Science 84 announced

Find all nash equilibria

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Reference no: EM131030346

The magazine Science 84 announced a contest for its readership: anyone could submit a request for either $20 or $100. If no more than (possibly equal to) 20% of the submissions requested $100, then everybody would receive the amount he or she requested. If more than 20% of the submissions asked for at least $20, then everybody would get nothing. Suppose 100 people are aware of the contest. The strategy set for each player consists of three elements: do not send in a request, send in a request for $20, and send in a request for $100. Suppose that each player’s payoff is the amount of money she receives, less the cost of submitting a request. Also, assume that the cost of submitting a request is zero. A person does not have to purchase a magazine to make a request. Find all Nash equilibria.

Reference no: EM131030346

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