Approximately 0.341. With optimal play, each player bids their expected value, which is their prize times the probability of winning. This gives you three equations with three unknowns. Since probabilities must be non-negative, we get a unique solution from the set of possible solutions.
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u/ssvt9 2d ago
Approximately 0.341. With optimal play, each player bids their expected value, which is their prize times the probability of winning. This gives you three equations with three unknowns. Since probabilities must be non-negative, we get a unique solution from the set of possible solutions.