What kind of game is this, How does this differ from normal markets

The following situation is played out between two students at a school. They are both working together on a school project. They must decide how much effort they both put into a group project. If the student does low effort and the other student does high effort, then they will get a good grade for little work. The table below shows what the persons happiness would be if they give a specific action by themselves and the other player.

For example If john gives low effort and jill gives high effort, john will get 8 happiness since he does no work but gets a good grade and jess will get low happiness since she needs to do more work for johns lack of work.

What kind of game is this? How does this differ from normal markets?

What is the players jesses dominant strategy? What is the games Nash equilibrium?

Suppose the teacher changes how grades are given out, now if one person gives low effort, they will be penalized. So, the game becomes this:

How does this change jesses dominate strategy? How does this change the Nash equilibrium?

image1.png

image2.png

Explanation & Answer

Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Order Now and we will direct you to our Order Page at Litessays. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.