Due to a Bitcoin deal gone wrong, you have been convicted along with Alex and Bob, two members of rival gangs. The only other way to settle the case is with a triangular shootout, where the last man standing goes free. As you are a much more seasoned crypto-analyst than marksman, you will hit any target you shoot at with probability 0.4. On the contrary, Alex is a sure shot who hits with probability 1, and Bob's rate is 0.7.
The moderator has declared that you will shoot first, Bob will shoot second, and Alex will shoot third. If no one is dead after the first round (raising suspicions of sabotage), or if anyone shoots out of turn, you will all be sentenced to 20 years in prison. You are confident that Alex and Bob will do whatever it takes to a) stay out of jail and b) remain the last man standing. You have 5 minutes to decide on a strategy. What do you do?
Hint will be posted in the comments section on Wednesday, August 29. Solution will be posted in the comments section on Saturday, September 1.