Imagine two vendors (our players) who must simultaneously choose a location to position their displays. There are n possible locations that form a straight line. Further, there is one customer at each location, and customers will choose the closest vendor (and split their time at each vendor if they're equally distanced from both). The profit for each vendor equals the number of customers they attract. Using iterated elimination of dominated strategies (IEDS), what is the dominant strategy equilibrium? Explain.

Imagine two vendors (our players) who must simultaneously choose a location to position their displays. There are n possible locations that form a straight line. Further, there is one customer at each location, and customers will choose the closest vendor (and split their time at each vendor if they're equally distanced from both). The profit for each vendor equals the number of customers they attract. Using iterated elimination of dominated strategies (IEDS), what is the dominant strategy equilibrium? Explain.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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hi you have not specified how you got 1.152