What is below is an application of the game theory from econs. I took the idea from the forum and apparently, this game theory tree below is called the nus students' dilemma. (though actually it can be called singapore students dilemma) Because blogger has rubbish typing facilities, i have to present it in the format below. Just pretend that there are boxes around the words and just follow the arrows, with m - mug & dm - dont mug.
It works like this. I have to make a decision on whether to mug (m) or dont mug (dm), and then, other students will respond 'strategically' to my decision. They can either choose to mug (m) or dont mug (dm).
....................................ME:Do well
.........................m.../....OTHERS: Do well
............OTHERS
...m....../...........dm....\......ME: Do well
........................................OTHERS: Fail
ME
...........................................ME: Fail
...dm......\.............m....../.....OTHERS: Do well
............OTHERS
....................................\
......................dm...........ME: Do well
.....................................OTHERS: Do well
If i and the others mug, then we all do well. But if i mug, and others dont mug, then they will fail and i will do well. etc etc
Since nus uses a bell curve for grades, if everyone doesnt mug (dm), then we will all do well, and can live a stress free life. BUT, based on the diagram above, mugging will be the dorminant strategy for others since the outcome is always advantageous to others. The incentive from 'undercutting' others or being 'undercut' is too strong. So given that others mug, our best choice is also to mug. This is the Nash equilibrium. Hahaha :) And as the person said in the forum, that is why we all mug when we all could just relax and get the good grades.
HAHA! ok i guess econs got to my brain.....
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