If he’s really on top of the situation, why did he say the equilibrium was $17.50? Obviously this isn’t an equilibrium, since anybody wins by defecting to $17.51. The equilibria are $19.99 and $20.00.
If he’s really on top of the situation, why did he say the equilibrium was $17.50? Obviously this isn’t an equilibrium, since anybody wins by defecting to $17.51. The equilibria are $19.99 and $20.00.