Jack and Jill are commodities traders who go to a bar after the market closes.
They are trying to determine who will buy the next round of drinks. Jack has caught a fly, and he also has a realistic fake fly. Jill, who is always prepared has a fly swatter. They are going to play the following game. Jack places either the real or fake fly on the table covered by his hand. When Jack says “ready,” he uncovers the fly (fake or real) and as he does so Jill can either swat the fly or pass. If Jill swats the real fly, Jack buys the drinks; if she swats the fake fly, Jill buys the drinks. If Jill thinks the real fly is the fake and she passes on the real fly, the fly flies away, the game is over, and Jack and Jill split the round of drinks. If Jill passes on the fake fly, then they will give it another go. If in the second
round Jill again passes on the fake fly, then Jack buys the round and the game is over. A round of drinks costs $2.
(a) Use Gambit to solve the game.
(b) What happens if Jill only has a 75% chance of nailing the real fly when she swats at it?
Jack and Jill are commodities traders who go to a bar after the market closes.