Question: help me solve it please 2. A large population of players are playing the following version of the beauty-contest game. Each player guesses a number

 help me solve it please 2. A large population of players

help me solve it please

are playing the following version of the beauty-contest game. Each player guesses

2. A large population of players are playing the following version of the beauty-contest game. Each player guesses a number between int] and zoo {inclusive}, and the player closest to p c 1 of the average wins a given prize. If multiple players are closest to p s 1 times the ayerage. the prize is allocated randomly between them. {a} [5pts1 What guesslesl suryiye iterated elimination of dominated strategies? From now on, suppose that a fraction 1 p; of the players is rational, and a fraction p of tI'Il players is irrational. It is known that irrational players like high numbers, so they always guess zoo. {bl {mots} Solve for the rationals' equilibrium guess as a function of p and p. {c} [5pts] What happens to the rationals' guess as p approaches 1 from below}I Explain the intuition. {cl} {Brits} What happens to the rationals' guess as .u approaches 1? Explain the intuition

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