in our class experiment offer why was the choice you made the smart choice

(I didn’t take part ) If you choose not to take part in the state of nature offer in the class it must be that you believe there is no way to maximize your self-interest by doing so. If you were talking with someone outside of the class he might think you were a fool for turning this down. He would likely insist that surely there must be some way of coming out ahead if we only think about it long enough. Show why this is not the case, and why there is no expected benefit from entering into this situation.

The offer/experiment:-

The game involves simply cooperating with each other, rather than stealing from each other. If you all agree to take the extra credit A then you will all get it. To agree/cooperate you just have to tell me “I will take the small A”. If however one person chooses to steal all the A’s from everyone else, by asking for the Big A, then that person will get an A for the semester, while everyone else will fail for the semester. If multiple people ask for the Big A, then everyone playing will fail for the semester. It doesn’t matter who asks first.

 

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