ASCs and the Prisoner's Dilemma
You may have heard of the Prisoner's Dilemma before. In case you haven't, here's a brief summary: It describes a scenario where individual decision-makers have an incentive to make decisions that aren't in the best interest of the group. The typical example involves two criminal partners recently arrested and interrogated separately. The interrogator is trying to get each prisoner to testify against the other, with the prospect of going free for the testimony. If both criminals remain silent, the police have no evidence and can't prosecute them - both go free. If one testifies, they go free while the other goes to jail. If both agree to testify, they both go to jail.
