Question
Due to the shuttering of businesses, social distancing, and remain-at-home guidelines during the height of the COVID-19 pandemic, a large number of consumers stocked up
Due to the shuttering of businesses, social distancing, and remain-at-home guidelines during the height of the COVID-19 pandemic, a large number of consumers stocked up (and hoarded in many instances) on many types of goods.We reasonably could compare this consumer behavior to the textbook example of a run on a bank.Consider why this happens in the context of Game Theory.Construct this scenario as a game with two players, You and Everyone Else, with payoffs such that the game is a Prisoners' Dilemma.You decide which product to consider, the strategies, and the payoffs.Include a brief narrative of the game you have constructed.Note:it is common in some games with multiple players to simplify by having one player and 'everyone else' as the second player. This question is complete.
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