Q(3)-{4] Two students are competing for a scholarship which will be given to the one with better performance. The performance pi of a student 3' is determined by y,- = I/Ei' where e; is the student's effort. If yl :5 1:2 {ya 3:: m] then student 1 {2} gets the scholarship; if y1 = 132 then the university uses a. lottery to decide the winner; each has 1;? chance of winning. Let the 1value of the scholarship be V. The payoff function of student 1 is V E]. if y] 3'" yg Uriel: '32} = 31 if y: