Social Studies, 21.03.2020 08:29, 10040816
In studying for his Economics final, Sam is concerned about only two things: his grade and the
amount of time he spends studying. A good grade will give him a benefit of 20; an average grade, a benefit of 5; and a poor grade, a benefit of 0. By studying a lot, Sam will incur a cost of
10; by studying a little, a cost of 6. Moreover, if Sam studies a lot and all other students study a little, he will get a good grade and they will get poor ones. But if they study a lot and he studies a little, they will get good grades and he will get a poor one. Finally, if he and all other students study for the same amount of time, everyone will get average grades. Other students share Sam’s preferences regarding grades and study time.
a. Model this situation as a two-person prisoner’s dilemma in which the strategies are to study
a little and to study a lot, and the players are Sam and all other students. Include the payoffs
in the matrix.
b. What is the equilibrium outcome in this game? From the students’ perspective, is it the best
outcome?
Answers: 2
Social Studies, 22.06.2019 18:30, mikeydog6273
Arecent challenge to the european union created by a member state is?
Answers: 1
Social Studies, 23.06.2019 09:30, emmanuelmashao6704
Which of the following situations best demonstrates the principle of separation of powers in the u. s. government? a. the president can veto laws passed by the legislature. b. the courts must approve constitutional amendments. c. states create their own educational policies. d. members of the legislature are elected by voters.
Answers: 1
In studying for his Economics final, Sam is concerned about only two things: his grade and the
...
...
Mathematics, 18.11.2020 02:40
Mathematics, 18.11.2020 02:40
Law, 18.11.2020 02:40
Mathematics, 18.11.2020 02:40