Consider a trading network with intermediaries in which there is one buyer, one seller, and two traders (intermediaries). The buyer and the seller each are allowed to trade with either trader. The seller has one unit of the object and values it at 0; the buyer is not endowed with the object but attaches a value of 1 to one unit of it.
Draw the trading network, with traders as squares, the buyer and the seller as circles, and edges representing pairs of people who are able to transact directly.
Then describe what the possible Nash equilibrium outcomes are, together with an explanation for your answer.
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