Wednesday, June 4, 2008

Extra Credit

In an effort to explain the equilibrium concept of optimal response, I offered my students the chance to earn a point of extra credit by winning the following game:
Pick a number between 1 and 100. The highest number in the class gets a point of extra credit
The answers?
100
100
100
23
100
36
I awarded four students extra credit for performing better than a random number generator. It's a good thing I teach at a school that's been called a "New Ivy League" institution.
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3 comments:

  1. Hope12:14 AM

    wow.

    ReplyDelete
  2. Macro Guy8:14 AM

    One said he "thought it would be a trick question". The other had no explanation.

    ReplyDelete
  3. Anonymous5:51 PM

    Chops! It is a trick question, but you didn't realize it. Based on the precise wording of your question, 36 should have won. "Between" is not the same as "from... to".

    ReplyDelete