GCC Micro Economics Social Dilemma Analysis Paper

Prompt: For this writing assignment, you must analyze an original social dilemma. In the first section of your paper, present and fully explain a social dilemma. Be sure to specify how it satisfies the definition (as presented in the book) of a social dilemma. Next, create two tables to present your dilemma as a 2×2 game. Your first table should be descriptive, similar to Figure 4.1 in the text. Your second table should be a payoff matrix showing the payoffs for each of the four hypothetical situations, similar to Figure 4.2a. Briefly explain the payoffs you assigned to each action. Using your payoff matrix, describe the Nash equilibrium/a and the mutually-preferred outcome. Finally, consider how people are sometimes able to resolve this social dilemma in the real world. Clearly explain how this method is successful in moving the players to a socially optimal outcome.

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