question is about game theory and curving class grades from a professor s perspective
If I set a curve for the class, in theory if no one chose to take the exams or turn in homework, everyone would pass the class without having to attend, turn in homework or take an exam. How would you set up a game (think game theory) in an effort to avoid this outcome from the professor’s perspective? Remember, think about payoffs from the perspective of students in the class and how you would establish different outcomes for different choices if students colluded together versus if just one student decided to defect.
You should be able to explain this in 500 words or less. Feel free to use any illustrations such as a payoff matrix to explain your rationale. Also, feel free to collude and work together on this. You can hand it in as a group or individually though if you hand it in as a group, then some people will free ride (we’ll talk about free riders in a couple of lectures).