Discuss your dominant strategy for the situation

Assignment Help Business Economics

Reference no: EM131245413

Think of a time when you were involved in strategic decision making. This could be a business situation or a personal situation. It could be anything from purchasing inputs for a manufacturing firm to trying to divide up household chores. Strategy is huge in sports – Should we punt or go for it on 4th?

1. Discuss your dominant strategy for the situation.

2. What was the other person’s dominant strategy?

3. What was your unique solution?

4. Were you happy with the outcome?

5. If someone was unhappy with the outcome, help your classmates figure out what their dominant strategy should have been.

Please answer each part of the questions and use game theory terminology. Make sure that you have an adversarial situation with at least two parties.

Reference no: EM131245413

Questions Cloud

Makes foreign sugar artificially expensive : Currently, the U.S. places high tariffs (import taxes) on foreign sugar. This makes foreign sugar artificially expensive and keeps it out of the U.S. market. It also makes sugar more expensive in the U.S. than it is in much of the rest of the world. ..

Analyze why equilibrium of supply and demand is desirable : Explain why equilibrium of supply and demand is desirable. Explain the following concepts using the concept of consumer and producer surplus Efficiency of markets.

Find overhead fraction for a full k-ary tree implementation : All nodes store data and a parent pointer, and internal nodes store K child pointers. The data field requires eight bytes and each pointer requires four bytes.

Concept of development economics-traditional economic growth : How do you distinguish between the concept of development economics and that of traditional economic growth? Do you agree with the notion of many economists who contend that the development economics is greater in scope than traditional economics? Wh..

Discuss your dominant strategy for the situation : Think of a time when you were involved in strategic decision making. This could be a business situation or a personal situation. It could be anything from purchasing inputs for a manufacturing firm to trying to divide up household chores. Discuss you..

Derive the formula for generating random numbers : The so-called 2-parameter Weibull distribution is defined as follows: F(x) = 1-e-(x/b)a. Using the inverse transform method, derive the formula for generating random numbers for the two-parameter Weibull distribution, where a=3 and b=0.9

Which stage of typical financial reimbursement cycle : Payments to hospitals from private insurers can be characterized as having reached which stage of a typical financial reimbursement cycle? Which of the following statements about the certificate of need legislation is false? The wealthiest group in A..

Would this change his insurance decision : Suppose that Mr. Casadesus had $320,000 in a savings account. Would this change his insurance decision? -should he renew his home insurance? And if so, for what amount of coverage?

Write a post order traversal function for general trees : Write a function that takes as input a general tree and returns the number of nodes in that tree. Write your function to use the Gen Tree and GT Node ADTs of Figure 6.2.

User Account

All Pages