first my code for creating the table:
\documentclass{report}
\usepackage{booktabs}
\usepackage{multirow}
\begin{document}
\begin{table}[!ht]
\begin{tabular}{lccc}
\textbf{Cases} & \textbf{First Order Condition} & \multicolumn{2}{c}{\textbf{Debt Level Chosen}} \\[5pt] \toprule
\multirow{2}{*}{$b(1+r)\leq \tilde{b}$} & \multirow{2}{*}{$u'(1+b)=p-\frac{p b}{2 \epsilon_H}$} & $b^{G}$ & with $\tilde{b}>b^{G}$ \\[3pt]
& & $\tilde{b}$ & with $\tilde{b}\leq b^{G}$ \\ [5pt] \midrule
$b(1+r)>\tilde{b}$ & $u'(1+b)=p$ & $b^{NG}$ & with $\tilde{b}<b^{NG}$ \\[5pt] \bottomrule
\end{tabular}
\caption{caption here}
\end{table}
\end{document}
For spacing I used the ["any number"pt] command after breaking the line. It is defining the space beneath that specific row.
Is it possible to define the space above a row?
Placing the [pt] command after for instance \toprule
, increases the thickness of the line.
I did not use \renewcommand{\arraystretch}{1.5}
as I do not want the same row spacing for all table rows in my paper.