Question: solve step by step with explanation 3. Consider the ultimatum bargaining game as introduced in the class with the following modification. If the share of

solve step by step with explanation

3. Consider the ultimatum bargaining game as introduced in the class with the following modification. If the share of player i is a, and that of player j is ,, where j z i, then the payoff of player i is where @ > 0. The parameter / can be interpreted as a measure of envy of player i towards player j. Find the subgame perfect equilibria of this game

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