In each of the following cases, provide a brief explanation of whether a prisoner?s dilemma is present. If so, suggest ways the dilemma can be overcome.
a. When there is a bumper crop (a large supply and, therefore, low prices), farmers incur losses.
b. Individual work effort has been observed to suffer when managers are grouped in teams with all team members receiving comparable compensation based on the overall performance of the group.
This question was answered on: Jul 11, 2017
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