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Find all nash equilibria in mixed strategies

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Reference no: EM132415483

Please explain ho to solve equation in steps:

Each of three players is deciding between the pure strategies go and stop. The payoff to go is 120/m where m is the number of players that choose go, and the payoff to stop is 55 (which is received regardless of what the other players do). Find all Nash equilibria in mixed strategies.

If each player chooses go. Let q denote go and 1-q denote stop

(1-q) ^2* 120 + 2* q* (1-q) * 60 + q^2* 40 = 55

Reference no: EM132415483

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