Suppose you are in class and your instructor makes you the following legitimate offer. Each student receives
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Suppose you are in class and your instructor makes you the following legitimate offer. Each student receives a ballot with the following two choices, without communicating with each other:
If everyone checks the first box, then all will receive \(\$ 1,000\). If anyone checks the second box, then only those who check the second box will receive \(\$ 100\). Which box would you check, and why? Answers for Problems 53-56 vary, but you will interesting if you do them with your class
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This problem is a classic example of a gametheoretic dilemma similar to the prisoners dilemma It exp...View the full answer
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