Question

In: Economics

1) Provide a set of payoffs in this format a, b      |    c, d e,...

1) Provide a set of payoffs in this format

a, b      |    c, d

e, f     |     g, i

for a 2x2 game that illustrated the problem of free access to guns.

2) Provide a set of payoffs in this format

a, b      |    c, d

e, f     |     g, i

for a 2x2 version of the Battle of the Sexes.

3. In what sense is the Battle of the Sexes a "social dilemma"?

Solutions

Expert Solution

Access to guns game

In the format (a,b)= a is Player 1’s payoff and b is Player 2’s payoff

Player 2

Has Guns

Has no Guns

Player 1

Has Guns

1,1

2,-1

Has no Guns

-1,2

3,3

  1. If both players have guns then they both risk getting shot and killed. Payoff will be (1,1)
  2. If player 1 has a gun and player 2 doesn’t, then the player 2 is more likely to get shot and killed and therefore his pay off is lesser. Payoff will be (2,-1)
  3. If player 2 has a gun and player 1 doesn’t, then the player 1 is more likely to get shot and killed and therefore his pay off is lesser.Payoff will be (-1,2)
  4. If both Player 1 and Player 2 do not have a gun then both of them are safe and do not have the risk of getting killed. Payoff will be (3,3)

It is clear in the game that lack of access to guns, which leads to no possession of guns will result in the highest pay-off

Battle of the sexes

In the format (a,b)= a is Jacob’s payoff and b is Amy’s payoff

Amy

Opera

Football

Jake

Opera

2,1

0,0

Football

0,0

1,2

  1. If jake and amy both choose opera, then they will have a payoff of (2,1)
  2. If jake and amy both choose football, then they will have a payoff of (1,2)
  3. If they do not make the same choice as each other then both of them will end up with a payoff of zero.

Question Number 3 is not a question related to economics, therefore I won't be the best person to answer it :)


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