Dominant strategy combination, Strategic Management

Assignment Help:

Janet decides to play a game with her children, Jay and Jill (who are fraternal twins) and Mo. Each child is in their own room and cannot communicate with each other. Suppose Jill and Jay share everything, while Mo, the older sister, never shares. Janet proposes to give each child an envelope with $9 in it, and they are given the option of keeping the money and giving back an empty envelope or leaving the money in the envelope when they return the envelope to Janet.

Janet will invite everyone to join her at the kitchen table, and will add $6 to the funds when she empties the envelopes, if there is still $9 in it. The children then get to split the funds and keep it.

a. How many strategy combinations are there? Let K stand for keep the $9, and let P stand for leaving the $9 in the envelope. Write out a table listing the strategy combinations in the first column, Jay's payoff in the second column, Jill's payoff in column three, Mo's payoff in column four and the total payoff in column 5.

b. Is there a dominant strategy combination? If so, what is it?

 


Related Discussions:- Dominant strategy combination

Calculate the economic order quantity, (a) XUZ Company produces readymade ...

(a) XUZ Company produces readymade garments for men. The purchasing officer collects the following information:-               Annual demand for Jeans                      40,0

Compensation:strategic perspective, Prepare a paper analyzing the role of M...

Prepare a paper analyzing the role of Macro Environmental Analysis and Perceived Task Environment at your workplace, or an organization of your choice. In the paper, discuss one tr

Strategy Formulation, # 14 Strategy formulation presupposes a set of goals ...

# 14 Strategy formulation presupposes a set of goals and objectives. Why aren''t goals and objectives obvious? What characteristics of people and organizations can make setting goa

Internal Environment, Explain the internal environment by undertaking the i...

Explain the internal environment by undertaking the internal auditing in the form of management, marketing, accounting, operations/production research and development an management

Quantitative analysis, how has quantitative analysis changed the current sc...

how has quantitative analysis changed the current scenario in the management world today?

Impact on the organizational and personal levels, Question Sarah and ...

Question Sarah and John are both working for a software development company. The manager of the new product division was originally the leader of the project team for whi

Methods for evaluating the performance of divisions, Q. Methods for evaluat...

Q. Methods for evaluating the performance of divisions? Profit based methods for evaluating the performance of divisions Operating profit (net profit) margin  =

Explain functional strategy, Explain Functional strategy Functional st...

Explain Functional strategy Functional strategy for J plc will be concerned with how the constituent parts of the organisation can effectively deliver the corporate and busin

Break-even point in dollar, You are considering shortly opening a copier se...

You are considering shortly opening a copier serving center near a university.  Your estimate of fixed cost is at $15,000 a year and the variable cost for every copy made is $0.01.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd