I am interested in the unique solution $x$ for the equation :
$$ p_K(x)=\frac{x+\dots+x^K}{K}=\frac{1}{2}, $$ for large values of $K$. When $K$ is small ($K=1$ and $K=2$) we can solve this equation explicitly and find : $$ x=\frac{1}{2}, \frac{\sqrt{5}-1}{2}. $$ For $K=3$ we still get an explicit solution which is more complicated and from $K=4$ on I do not find an explicit solution. As $K$ tends to infinity, we find that the unique solution $x_K$ of $p_K(x_K)=0$ tends to one, i.e. $\lim_{K \rightarrow \infty} x_K = 1$. I would like to find an asymptotic approximation of $p_K(x)$ denoted by $\tilde p_K(x)$ for which the solutions $\tilde x_K$ satisfy: $$ \lim_{K\rightarrow \infty} K \cdot \log(x_K) = \lim_{K\rightarrow \infty} K \cdot \log(\tilde x_K). $$ My idea was to use the approximation : $$ \frac{x+\dots+x^K}{K} \approx x^{\frac{\sum_{j=1}^K j }{K}} = x^{\frac{K+1}{2}}. $$ Using this approximation, we find $\tilde x_K = \left( \frac{1}{2} \right) ^{\frac{2}{K+1}}$ and we find for the limit : $$ \lim_{K\rightarrow \infty} K \cdot \log(\tilde x_K) = -2 \log(2) \approx -1.38 $$ but by numerical approximation, find : $$ \lim_{K\rightarrow \infty} K \cdot \log(x_K) \approx - 1.592 $$
If the main objective is to solve the equation, I would suggest to plug into the equation the approximation for $\tilde{x}_K$ you are looking for. In particular, you appear to be looking after an approximate solution of the equation $p_K(\tilde{x}_K) \approx 1/2$ in the form $$ \tilde{x}_K = e^{C/K} $$ where $C \neq 0$ should be determined later.
Substituting in $p_K$ we have $$ p_K(\tilde{x}_K) = \frac{1}{K} \sum_{i=1}^{K} e^{Ci/K} = \frac{1}{K} \frac{e^C-e^{C/K}}{e^{C/K}-1} \approx \frac{1}{C} \left( e^C-1 \right) $$ for sufficiently large $K$. Using this into $p_K(\tilde{x}_K) \approx 1/2$, we deduce that the constant $C$ should solve the following equation $$ e^C -\frac{C}{2} -1 = 0. $$ Numerical solution finally gives $C \approx -1.592$ as claimed.