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Application of a static game of complete information: economic behaviors of professors and students

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  • Tin-chun Lin

    (Indiana University - Northwest)

Abstract

The economic behaviors manifested between professors and students may be viewed as a game, with both behaviors endogenously correlated. In this paper, a static game is applied to address this behavior and determine the Nash equilibrium. Both professors and students choose their best strategies (i.e., optimal efforts) to maximize their payoffs. Consequently, theoretical analysis suggests that professor's evaluation and student's grade are endogenously correlated. More importantly, an innovation is offered here that is useful in constructing empirical models for the further investigation of this issue.

Suggested Citation

  • Tin-chun Lin, 2009. "Application of a static game of complete information: economic behaviors of professors and students," Economics Bulletin, AccessEcon, vol. 29(3), pages 1678-1686.
    • Handle: RePEc:ebl:ecbull:eb-09-00394
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    References listed on IDEAS

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    1. Paul W. Grimes & Meghan J. Millea & Thomas W. Woodruff, 2004. "Grades—Who's to Blame? Student Evaluation of Teaching and Locus of Control," The Journal of Economic Education, Taylor & Francis Journals, vol. 35(2), pages 129-147, April.
    2. William E. Becker & William Bosshardt & Michael Watts, 2012. "How Departments of Economics Evaluate Teaching," The Journal of Economic Education, Taylor & Francis Journals, vol. 43(3), pages 325-333, July.
    3. Michael A. McPherson, 2006. "Determinants of How Students Evaluate Teachers," The Journal of Economic Education, Taylor & Francis Journals, vol. 37(1), pages 3-20, January.
    4. Krautmann, Anthony C. & Sander, William, 1999. "Grades and student evaluations of teachers," Economics of Education Review, Elsevier, vol. 18(1), pages 59-63, February.
    5. Paul Isely & Harinder Singh, 2005. "Do Higher Grades Lead to Favorable Student Evaluations?," The Journal of Economic Education, Taylor & Francis Journals, vol. 36(1), pages 29-42, January.
    6. Mason, Paul M. & Steagall, Jeffrey W. & Fabritius, Michael M., 1995. "Student evaluations of faculty: A new procedure for using aggregate measures of performance," Economics of Education Review, Elsevier, vol. 14(4), pages 403-416, December.
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    Cited by:

    1. Andreja Smole & Timotej Jagrič & Drago Bokal, 2021. "Principal/Two-Agent model with internal signal," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 29(3), pages 791-808, September.
    2. Tin-chun Lin, 2009. "Implications of grade inflation: knowledge illusion and economic inefficiency in the knowledge market," Economics Bulletin, AccessEcon, vol. 29(3), pages 2314-2324.

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    More about this item

    Keywords

    Economic behavior; Static game; Student evaluations of teaching;
    All these keywords.

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D0 - Microeconomics - - General

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