Question: a hundred players are participating in this game n ...
A hundred players are participating in this game (N = 100). Each player has to choose an integer between 1 and 100 in order to guess “5/6 of the average of the responses given by all players”. Each player who guesses the integer closest to the 5/6 of the average of all the responses, wins.
(a) Find all weakly dominated strategies (if any).
(b) Find all strategies that survive the Iterative Elimination of Dominated Strategies (IEDS) (if any).
No additional information regarding input and output. This is not needed to solve the problem.