Question 5 Which of the following scenarios describe strategic decision-making that is consistent with a prisoners' dilemma game? I) Two individuals share access to a lake where the stock of fish is declining due to the total amount of fishing taking place. II) At an orchard, fruit pickers are formed into teams of two individuals and each individual is paid based on the amount of fruit picked by the team. III) Two competing electronic device manufacturing companies must decide on whether to use USB3 or USB-C charging cables in their products. If they use the same charging technology, the market grows quickly for both firms, but if they choose different technologies, the market grows more slowly. IV) Two neighbouring properties in Texas are located above a single underground reservoir of oil. The owner of each property drills to extract the oil, knowing that if the overall rate of extraction is too fast, air pockets will prevent some oil from being extracted. All scenarios Scenarios I, II and III Scenarios I, Il and IV Scenarios I, IIl and IV

ENGR.ECONOMIC ANALYSIS
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Question 5
Which of the following scenarios describe strategic decision-making that is
consistent with a prisoners' dilemma game?
I) Two individuals share access to a lake where the stock of fish is declining due to
the total amount of fishing taking place.
II) At an orchard, fruit pickers are formed into teams of two individuals and each
individual is paid based on the amount of fruit picked by the team.
III) Two competing electronic device manufacturing companies must decide on
whether to use USB3 or USB-C charging cables in their products. If they use the
same charging technology, the market grows quickly for both firms, but if they
choose different technologies, the market grows more slowly.
IV) Two neighbouring properties in Texas are located above a single underground
reservoir of oil. The owner of each property drills to extract the oil, knowing that if
the overall rate of extraction is too fast, air pockets will prevent some oil from being
extracted.
All scenarios
Scenarios I, II and III
Scenarios I, Il and IV
Scenarios I, IIl and IV
Transcribed Image Text:Question 5 Which of the following scenarios describe strategic decision-making that is consistent with a prisoners' dilemma game? I) Two individuals share access to a lake where the stock of fish is declining due to the total amount of fishing taking place. II) At an orchard, fruit pickers are formed into teams of two individuals and each individual is paid based on the amount of fruit picked by the team. III) Two competing electronic device manufacturing companies must decide on whether to use USB3 or USB-C charging cables in their products. If they use the same charging technology, the market grows quickly for both firms, but if they choose different technologies, the market grows more slowly. IV) Two neighbouring properties in Texas are located above a single underground reservoir of oil. The owner of each property drills to extract the oil, knowing that if the overall rate of extraction is too fast, air pockets will prevent some oil from being extracted. All scenarios Scenarios I, II and III Scenarios I, Il and IV Scenarios I, IIl and IV
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