Question: Study Group Free Riding In the game shown here, change the ranking of values that Sally and Joe place on leisure and grades to change

Study Group Free Riding

In the game shown here, change the ranking of values that Sally and Joe place on leisure and grades to change the game from a prisoners' dilemma into a game of chicken with two equilibria.

Give advice to Joe about how to change the game to his advantage.

John
Shirk Work
Bisi Shirk D+Leisure , D+Leisure C+Leisure , C
Work C , C+Leisure B , B

Upper left is an equilibrium if both students rank the outcomes as follows:

B grade of C and leisure is better than

a grade of B and no leisure, which is better than

a grade of D and leisure, which is better than

a grade of C and hard work.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!