2.1.8 Gift Giving Phillips Curve Game
You are shopping for gifts for your best friend. You need to decide how many gifts to give them to make them happy.
Their happiness is determined by how many gifts they expect from you that year.
Their expectation of gifts this year is determined by the number of gifts you gave last year.
Play the game to see if you can make your friend happy!
Year:
Your friend expects 0 gifts this year.
How many gifts do you want to give them?
This will make your friend this happy: đ
Summary Table:
| Year | Gifts Given | Happiness | Gift Expectation |
|---|---|---|---|
Summary Questions:
- What is the relationship between your friend’s happiness, the number of gifts you give them, and their expectations?
- What is the problem with always trying to keep your friend happy each year?
- How can you get the gift giving back under control?
- What do you think will be the best way to make your friend happy in the long run? (Think outside the box here)
- How does this game illustrate the concept behind The Phillips Curve?