wˈʌn. ˌɪndᵻvˈɪdʒuːəl ɹˌæʃənˈælᵻɾi ˌaɪˈɑːɹ: ðɪ ɛkspˈɛktᵻd vˈæljuː ʌv bˈoʊθ bˈɑːb ænd sˈæli ʃˌʊd biː nˈɑːnnˈɛɡətˌɪv sˌoʊ ðæt ðeɪ hæv ɐn ɪnˈɪʃəl ɪnsˈɛntɪv tə pɑːɹtˈɪsᵻpˌeɪt.
1. individual rationality (IR): The expected value of both Bob and Sally should be non-negative (so that they have an initial incentive to participate).