Question

James and William, two equally talented athletes, expect to compete in the upcoming world championship in the 400-meter hurdles. Each of them is trying to decide how many hours to train each week for the first race. We will use the Tullock model to describe their behavior.

For each athlete, winning is worth 90 hours per week, so we measure the prize as 90 hours. The cost of an hour of effort is, of course, an hour.

Suppose that James plans to train 10 hours per week, and William plans to train 20 hours per week.

suppose that a third player, Mike, decides to compete in the race as well. Mike is equally talented as James and William. Suppose James and William are training 10 hours each and Mike is training for 20 hours. The prize for each of them is 90 hours.

What is James's probability of winning?

Answer 1

Probability of James's winning = training hours of James/ total training hours of James, William and Mike

                                             = 10/40

                                             = 0.25

Ans:James's probability of winning = 0.25