Question

Question 5

i) The make‐up for students missing the mid‐term will be at 7:30am. Explain why this professor likes this policy?

[Hint: Make ups are extra work of the graders, and many students don’t like it that early]   [Note: Sickness is a choice variable for students who miss an exam]

ii) Also, use game theory to model this situation.

Answer 1

As per the game theory which basically is the study of how the companies or person or nation etc determine their different strategies inn various situations in the face of cometing strategies acted out by the other agents or the players .This theory have the assumption that the agent make the rational decision at all times .So, if we look at the utility of time , then for the Professor the time of early 7:30 am in the morning is the best time as it will wrap the extra work or burden the professor has for taking the makeup test irrespective of the other agent or student decision/preference who missed the make up test early .Also, as most of the student may have missed the previous TEST because of not preparing or other reason so in order to strict them or teach the value of TEST  or professor it is also rational for the professor to conduct TEST in the early morning wihtout giving the time to revise for the student .That is why the professor like this policy .

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