The grade negotiation game

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Reference no: EM132156477

Imagine the teacher decide to determine you grade on this test solely based on one game we play called "The Grade Negotiation Game". You goal is to obtain the highest possible grade, while the teacher's goal is to make sure there is the following grade distribution for the class: three students with As, five students with Bs, three students with Cs, and two students with Ds. If the teacher maintains this distribution he will get tenure and be thought of as a great professor by my colleagues. You are the sixth person to sit down and negotiate with the teacher. He ( the teacher) has already assigned a grade to the five people who went before you. You do not know what the five people in front of you said, how they negotiated, or what the teacher said to them. You also do not know the outcome of those games. Likewise, you do not know who is left to negotiate with the teacher and what will happen with any of them. The teacher, on the other hand, know exactly what has occurred with the other five students who have gone, and know who still is left to negotiate with the teacher. You however do have something you can offer the teacher of value (and it is not money) that he ( the teacher) do not know about. You goal is to use this "thing" or "things" to help negotiate the best grade possible.

1) What asymmetric information is present within "The Grade Negotiation Game" game scenario described above?

2) What of value could you offer the teacher in the negotiation? Note: This is something the teacher would like you to create/make up based on the game the teacher described but he wants it to be reasonable. It cannot be money.

a. What can the teacher gain by trading you a certain grade for this "thing"?

b. What is the value of what you have (i.e., the "thing" you are offering the teacher) and what is the value of what the teacher has (i.e., your final grade)?

3) Tree diagram to demonstrate how you foresee the game playing out. Begin with what your initial "ask" will be (i.e., what grade you will come in and ask for and what the teacher would get in return) and then forecast how you think the teacher might respond. Play this game out to five iterations.

4) Explain what strategies you would use in your negotiations with the teacher to try to assure you get the highest grade possible. Why would you use these strategies?

Reference no: EM132156477

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