Question

i: Jan 2 at 8:40pm z Instructions Question 10 10 pts After teaching a class on game theory, the instructor announces that if every student skips the last question on the next exam, everyone will receive full credit for that question. However, if one or more students answer the last question, all responses will be graded and those who skip the question will get a zero Will the entire class skip the last question if there is no chance for classmates to discuss the situation before taking the exam? ONo, because the dominant strategy of the best-prepared students is to answer the last question. Yes, because this strategy offers the best result for everyone. Yes, because everyone assumes that all other classmates will skip the question. No, because there is always at least one selfish person in the class who will answer the question. Previous No new data to save. Last checked at 10:03pm Submit Q

Answer 1

Answer 10

The correct answer is (a) No, dominant strategy of the best prepared student is to answer the last question.

Lets take into consideration the situation of best prepared student who knew the answer. He has now two available strategy Skip or Answer the last question. If he skips and all other skips then he will get full credit but if he skips and any other person answers he will get 0.

If he answers and as he knew the answer whatever other students choose to do he will get full credit.

Hence, His payoff is higher whatever other persons do If he answers than If he skips. Hence , Answering that question is a dominant strategy for best prepared student. Hence he will choose to answer that last question.

Hence, the correct answer is (a) No, dominant strategy of the best prepared student is to answer the last question.