Player

I

II

III

Period

1

2

3

1

2

3

1

2

3

$E\left(Y\right)$

1

$k_q$

3

$r_f$

0.05

$\sigma \left(Y\right)$

10.488

$K_j$

2807.190

2367.231

2006.917

${\beta }_j\left(k\right)$

3.0

3.0

3.0

3.8

3.8

3.8

4.6

4.6

4.6

$e_j\left(k\right)$

0.15

0.15

0.15

0.15

0.15

0.15

0.15

0.15

0.15

${\pi }_j\left(k\right)$

1.15

1.10

1.10

1.117

1.100

1.117

1.083

1.083

1.183

$N_j\left(k\right)$

4500

4500

4500

3200

3200

3200

2300

2300

2300

equil/prem

1.580

1.538

1.579

1.527

1.499

1.544

1.487

1.466

1.542