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Still have to make a judgment call, backward induct. Everyone knows that everyone keeps better notes out, so everyone negotiates/gambles for better.
You're not proving anything here, sir.
I give him ten-dollar banknote still in acceptable condition for anyone - and he must accept it.
so, I do prove that your: "merchant is in the exact same position" is painly false thesis, and this way whole your thesis about the Copernicus' Law as well... ;)
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