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Suppose 100 UC students are applying for a summer internship. Due to time constraints, each student can apply to only one position. JP Morgan Chase advertises two positions while only one position

Suppose 100 UC students are applying for a summer internship. Due to time constraints, each student can apply to only one position. JP Morgan Chase advertises two positions while only one position is available at Compass Lexecon. A student who applies to JP Morgan Chase has the following utility: (150 if m2 150-2 if m>2 , where m denotes the total number of applicants at JP Morgan Chase (including this student). A student who applies to Compass Lexecon has the following utility: {200 if n = 12 if n>1, where n denotes the total number of applicants at Compass Lexecon (including this student). • Is it a Nash equilibrium for all students to apply to JP Morgan Chase? Is Nash equilibrium achieved when all students apply to Compass Lexecon? Explain. • Find the tipping point. Is it a Nash equilibrium? Show all work. Are there any other arrangements other than those mentioned in parts 1 and 2 above that constitute a Nash equilibriu? Explain. .

Problem 1 (25 points) Suppose 100 UC students are applying for a summer internship. Due to time constraints, each student can

Jun 10 2021 View more View Less

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