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Choosing die sizes when the sum must stay under 8

Question

You and another player each independently choose a number of sides k∈{1,…,6}k\in\{1,\dots,6\} for your own die, whose faces are then 1,…,k1,\dots,k, each equally likely. Both dice are rolled. If the two results add up to 77 or less, each player is paid by a third party the value shown on their own die; if the total is 88 or more, nobody is paid.

Both players choose optimally (an equilibrium). Let ss be the number of sides you choose and pp your expected payout. Find s⋅ps\cdot p.

Short answer

495\tfrac{49}{5}. Compute the payoff table: against a 55-sided die, your payouts for k=4,5,6k=4,5,6 are 3920\tfrac{39}{20}, 4925\tfrac{49}{25}, 116\tfrac{11}{6}, so 55 is a best reply to 55 and (5,5)(5,5) is the symmetric equilibrium (smaller dice get undercut by a bigger one). Then s=5s=5, p=4925p=\tfrac{49}{25}.

Adapted from QuantQuestions.io; question and answer rewritten by SelfMadeQuant.com.

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