You and a classmate are assigned a project on which you will receive one combined grade. You each want to receive a good grade, but you also want to avoid hard work. In particular, here is the situation: • If both of you work hard, you both get an A, which gives each of you 25 units of happiness. • If only one of you works hard, you both get a B, which gives each of you 15 units of happiness. • If neither of you works hard, you both get a D, which gives each of you 5 units of happiness. • Working hard costs 15 units of happiness.   Complete the following payoff matrix given the previous information. In each cell, your classmate's payoff is on the left and yours is on the right.   Your Decision Work Shirk Classmate's Decision Work ,    ,    Shirk ,    ,    The likely outcome is that your classmate    and you    .   If you get this classmate as your partner on a series of projects throughout the year, rather than only once, you are    likely to engage in cooperation.   Another classmate cares more about good grades: He gets 30 units of happiness for a B and 50 units of happiness for an A. Complete the following payoff matrix, assuming you have this classmate as a partner.   Your Decision Work Shirk Classmate's Decision Work ,    ,    Shirk ,    ,    The likely outcome in this case is that your classmate    and you    .   You would prefer the    classmate as a partner, and he    want you as a partner.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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You and a classmate are assigned a project on which you will receive one combined grade. You each want to receive a good grade, but you also want to avoid hard work. In particular, here is the situation:
If both of you work hard, you both get an A, which gives each of you 25 units of happiness.
If only one of you works hard, you both get a B, which gives each of you 15 units of happiness.
If neither of you works hard, you both get a D, which gives each of you 5 units of happiness.
Working hard costs 15 units of happiness.
 
Complete the following payoff matrix given the previous information. In each cell, your classmate's payoff is on the left and yours is on the right.
  Your Decision
Work Shirk
Classmate's Decision Work
 
 
Shirk
 
 
The likely outcome is that your classmate    and you    .
 
If you get this classmate as your partner on a series of projects throughout the year, rather than only once, you are    likely to engage in cooperation.
 
Another classmate cares more about good grades: He gets 30 units of happiness for a B and 50 units of happiness for an A.
Complete the following payoff matrix, assuming you have this classmate as a partner.
  Your Decision
Work Shirk
Classmate's Decision Work
 
 
Shirk
 
 
The likely outcome in this case is that your classmate    and you    .
 
You would prefer the    classmate as a partner, and he    want you as a partner.
 
 
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