Question

For several​ years, a professor at Johns Hopkins University had been using the following grading scheme for his final​ exam: He would give an A to the student with the highest score. The grades of the remaining students were then based on what percentage their scores were of the top​ student's score. In the fall of​ 2012, the students in the class came up with the idea of boycotting the final exam. They stood in the hallway outside the classroom but did not enter the room to take the exam. After waiting for a​ time, the professor cancelled the exam​ and, applying his grading​ scale, gave everyone in the class an A on the exam. An article in the New York Times about this incident​ observes: "This is an amazing game theory​ outcome, and not one that economists would likely​ predict." ​Source: Catherine​ Rampell, "Gaming the​ System," New York Times​, February​ 14, 2013. Game theory indicates the​ students' strategy was unlikely to work because

Answer 1

it is extremely difficult to manage to get a group of individuals towards agreeing to participate and not defect from the strategy.

Step-by-step explanation:

Game theory is a theory that focuses on understanding exactly why an individual makes certain decisions as well as how they affect others. Based on this theory the student's strategy was unlikely to work because it is extremely difficult to manage to get a group of individuals towards agreeing to participate and not defect from the strategy. Since not everyone would believe that it will work and others may just get tired.