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What is the expected net benefit of a player

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Reference no: EM133599445

Question: Suppose that 20 risk neutral competitors participate in a rent seeking game with a fixed prize of $500. Each player may invest as much (in $) as he wishes in the political contest. The probability of winning is directly proportional to the candidate's share of the total rent-seeking investment.

a. What is the expected net benefit of a player if all other players invest $20 each? Write the net benefit as a function of the player's investment.

b. Solve the maximization problem to arrive at the profit-maximizing investment.

 

 

Reference no: EM133599445

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