Jane and Bill are apprehended for a bank robbery. They are taken into separate rooms and questioned by the police about their involvement in the crime. The police tell them each that if they confess and turn the other person in, they will receive a lighter sentence. If they both confess, they will be each be sentenced to 30 years. If neither confesses, they will each receive a 20-year sentence. If only one confesses, the confessor will receive 15 years and the one who stayed silent will receive 35 years. The table below represents the choices available to Jane and Bill.  If Jane thinks that Bill will confess, what should she do? A = Confess; B = Stay Silent. (Each results entry lists Janes's sentence first (in years), and Bill's sentence second.) Question 2 options:   Confess    Stay Silent Question 3 (1 point)   ListenReadSpeaker webReader: Listen Jane and Bill are apprehended for a bank robbery. They are taken into separate rooms and questioned by the police about their involvement in the crime. The police tell them each that if they confess and turn the other person in, they will receive a lighter sentence. If they both confess, they will be each be sentenced to 30 years. If neither confesses, they will each receive a 20-year sentence. If only one confesses, the confessor will receive 15 years and the one who stayed silent will receive 35 years. The table below represents the choices available to Jane and Bill.   Which criminal(s) have a dominate strategy to cheat?  A = Confess; B = Stay Silent. (Each results entry lists Janes's sentence first (in years), and Bill's sentence second.)   Jane A B Bill A (30, 30) (15, 35) B (35, 15) (20, 20) Question 3 options:   Only Bill has a dominate strategy so he should cheat   Only Jane has a dominate strategy so she should cheat   Both Bill and Jane have a dominate strategy so they should both cheat   Neither Bill nor Jane have a dominate strategy

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question 2 (1 point)

 

ListenReadSpeaker webReader: Listen

Jane and Bill are apprehended for a bank robbery. They are taken into separate rooms and questioned by the police about their involvement in the crime. The police tell them each that if they confess and turn the other person in, they will receive a lighter sentence. If they both confess, they will be each be sentenced to 30 years. If neither confesses, they will each receive a 20-year sentence. If only one confesses, the confessor will receive 15 years and the one who stayed silent will receive 35 years. The table below represents the choices available to Jane and Bill.

 If Jane thinks that Bill will confess, what should she do? A = Confess; B = Stay Silent. (Each results entry lists Janes's sentence first (in years), and Bill's sentence second.)

Question 2 options:

 

Confess 

 

Stay Silent

Question 3 (1 point)

 

ListenReadSpeaker webReader: Listen

Jane and Bill are apprehended for a bank robbery. They are taken into separate rooms and questioned by the police about their involvement in the crime. The police tell them each that if they confess and turn the other person in, they will receive a lighter sentence. If they both confess, they will be each be sentenced to 30 years. If neither confesses, they will each receive a 20-year sentence. If only one confesses, the confessor will receive 15 years and the one who stayed silent will receive 35 years. The table below represents the choices available to Jane and Bill.

 

Which criminal(s) have a dominate strategy to cheat?  A = Confess; B = Stay Silent. (Each results entry lists Janes's sentence first (in years), and Bill's sentence second.)


 

Jane

A

B

Bill

A

(30, 30)

(15, 35)

B

(35, 15)

(20, 20)

Question 3 options:

 

Only Bill has a dominate strategy so he should cheat

 

Only Jane has a dominate strategy so she should cheat

 

Both Bill and Jane have a dominate strategy so they should both cheat

 

Neither Bill nor Jane have a dominate strategy

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