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6/4/2021 Test #4 Written Portion https://gcc.instructure.com/courses/31308/assignments/428314?module_item_id= XXXXXXXXXX/2 Test #4 Written Portion Due Saturday by 11:59pm Points XXXXXXXXXXSubmitting a...

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6/4/2021 Test #4 Written Portion
https:
gcc.instructure.com/courses/31308/assignments/428314?module_item_id= XXXXXXXXXX/2
Test #4 Written Portion
Due Saturday by 11:59pm Points XXXXXXXXXXSubmitting a file upload
File Types doc and docx Available after Jun 4 at 12am
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Positional Externality Prisoner's Dilemma-1.docx
Instructions:
Utilizing the file attached above, which contains the matrix below, devise a strategic game for a real-life
situation between two players that leads to a prisoner’s dilemma because of positional externalities. Make
sure that you label who the players are, devise and label the two strategies, and type-in the accompanying
payoffs in the matrix that have been appropriately underlined to outline each player's best responses. You
need to then write an essay describing the real life situation and the details of your game and why the
devised payoffs are appropriate. In addition, you need to detail each player's best responses in the game,
given what the opposing player is doing, and you need to describe how the strategies lead to a prisoner's
dilemma because of inherent positional externalities embedded within the game. The essay needs to be a
minimum of three quarters (3/4) of a page (excluding the matrix). The example that you create doesn't have
to necessarily pertain to purely business or economic matters. You can create and come up with any
situation that you choose. *******However, please note that you can not use an example where prisoner's o
other individuals are deciding to either confess or keep quiet in the game. I want you to devise an original
game.********

Submission Instructions:
Utilize the file attached above, which contains the appropriate matrix, to write and submit your paper.
Please double space your text and utilize a size 12 font. Your matrix and accompanying essay need to be
submitted as a Word document into Canvas. Points will be awarded based on an appropriate technical
description of the game, logical consistency in a game theoretical sense, and whether or not the described
game and situation logically leads to a prisoner's dilemma because of inherent positional externalities.
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6/4/2021 Test #4 Written Portion
https:
gcc.instructure.com/courses/31308/assignments/428314?module_item_id= XXXXXXXXXX/2

Player 2:
Player 1:
    
    Strategy 1:
    Strategy 2:
    Strategy 1:
    
    
    Strategy 2:
Answered Same Day Jun 04, 2021

Solution

Subhanbasha answered on Jun 05 2021
142 Votes
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Prisoner’s dilemma is most useful technique or standard analyzing technique of the game theory. This will help us to distinguish the two individual are why not cooperate each other. In this two individuals are not having the communication between them and make decision independently. Based on their decision on the situation they will be punishable in the manner where they give response. It will say that one another no opportunity punish each other. Betraying individual can get the good reward than the cooperate one and make the co
ect decision about the situation. This game will be conduct repeatedly two know the confessing with the existing decision of the individuals. Then the final decision will be took by the judicially.
    Here we are taking the situation where the two markets are doing business on the same manufactured items and they can get the profit by taking the decisions of the organization. This game will lead to the markets to get better strategy to make high profit that other market. There are two cases between two markets about the price if one reduce the price the profit will be high in that market than the other. And the game play will be on the strategies of two markets based on one another.
    There will be two strategies of two markets those are whether they cooperate or defect. These two strategies will help the two markets to make...
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