Often during the course of the a B-school program, students are confront with the quandary of whether to unravel for a sort out fitting or to wedge individually for an impending mid-term psychometric test. | A B | extend ON ECO confuse | ruminate FOR MANAC | |WORK ON ECO PROJECT |10,10 |30,10 | |STUDY FOR MANAC |10,30 |30,30 | A classic case of this predicament happened belatedly when we were so-called to work on the group denomination for Economics. The MANAC Mid-Term exam was overly scheduled to b e held on the day when the assignment had to be submitted. Now this group assignment was for 10 mark whereas the weightage for the MANAC Mid-Term examination was 30 tag. So everyone in the group was faced with the dilemma of whether to study for the impending MANAC exam which was for 30 marks or to work on the group project which was for 10 marks. The final payments for the dilemma faced by the students are tabulated below.
The payoffs abandoned below in the hold over, are those for two students (A,B) of the same group who need to work on the eco assignment. The payoffs given in the t able-bodied book been arriv ed at assuming that the students will be abl! e to maximize their tons in both the group assignment as closely as the MANAC exam. TABLE 1 Now, heedless of the strategy B chooses, A will always have a better payoff if he chooses to study for MANAC. That is, as per the Prisoners Dilemma, canvass for MANAC is the dominant strategy for A. ?A( area for MANAC, Work For Eco Project) > ?A (Work on Eco Project, Work for Eco) i.e. 30 > 10 ?A( Study for MANAC, Study for MANAC) > ?A (Work on Eco...If you want to get a full essay, order it on our website: OrderCustomPaper.com
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