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2. a) Explain why the equilibrium, found by IDSDS, in the Guess half the average game” is everyone choosing zero. b) Given y
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Answer #1

Answer 1)

When we choose to play "Guess half the average game" in this format we follow steps as below

If all choose number 50 then average is 25 and whoever chooses less than 50 wins a game simialrly if all chooses 49 then whoever chooses less than 49 wins the game and so on there is incentives to decrease a number till it reaches to bare minimum equals to "0"

Answer 2)

If everyone choose 0 then average is 0 but if any of the players choose 1 then average is non zero which leaves an incentive to quote anything other than zero and so on game continues

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