Here is the situation and this is for my graduate econ class, so I know that many of us have great sense of humor, but please help me out with a serious answer....
Facts:
1. You have a chance to win $10.
2. You can enter for free.
3. You can donate money.
4. Free entrants and donators have the same chance to win.
5. The average donation wins, whether guessed by free entrant or donator.
5. Only the donators affect the average donation - donations greater than 0 (zero) will be averaged out, and the one closest to the average will win.
How much would you donate?
2007-05-23
11:13:28
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2 answers
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asked by
sd
1