Amko
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Looking at the situation from a bird's-eye view, the town's chances of winning after two nights have passed are decreasing quite rapidly. Theoretically, executing the serial killer would be most beneficial for the town, as it would reduce the number of possible kills the townspeople could make during the night. On the other hand, I don't like executing the serial killer early in the game. It's very difficult to identify him based on just a couple of clues, and those clues are usually complex.