I found this guy's website,
http://www.eco.utexas.edu/faculty/Ha...onThought.htm. It's the "Thought of the Day" and it is always related to Economics. I enjoy checking it to see if he has updated it and see how he relates everyday life to Economics. I figured this would be a little something fun to do.
This is todays:
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November 15, 2007—A student was in my office hours yesterday and asked a very specific question. I gave a sheepish look, and she asked why I was looking that way. I hemmed and hawed, then blurted out that I had a question on exactly that point on today’s quiz. I said I was worried that she would tell other students about this. She said she had an
incentive not to tell, since to some extent I might be grading on the curve. I said with 500 students in the class, her inference wasn’t correct—she has an incentive to tell 5 friends and help them without appreciably affecting the grading scale in the course. BUT—she would have to swear them to silence, or tell them only right before class, otherwise they might talk to 5 of their friends, etc., and enough students might then get the question correct to wipe out the advantage arising from her little bit of advanced knowledge about the quiz.
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Can anyone see where he went wrong?