For the following games, determine which of them satisfy the definition of strictly competitive games: (a) Matching Pennies (Anti-coordination game), (b) Prisoner's Dilemma (c) Battle of the Sexes (Coordination game).
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- 31.Which of the following risk responses would be most likely to be given consideration for an organization which is a trade importer and exporter? Group of answer choices Accept risk Reduce risk Avoid risk Share riskSuppose that for the past two weeks, your department has been developing policy changes. During this time, your colleague was on vacation and did not participate in the process. When he returns, he doesn’t agree with a number of items and wants them changed. Because the policy changes are due the next day, which of the following would you use to approach this conflict? Thoroughly explain why you selected this option and how you intend to use it. Accommodation. Avoidance. CollaborationC-1. THE AMERICO OIL CO. OONSIDERING MAKING A BID FORA SHALE OIL DEVELOPMENT CONTRACT TO BE AWARDED BY THE FEDERAL GOVERNMENT. THE COMPANY HAS DECIDED TO BID $110M. THE CO. ESTIMATES THAT IT HAS 60% CHANCE OF WINNING THE CONTRACT WITH HIS BID. IF THE CO. WINS THE CONTRACT, IT CAN CHOOSE 1 OF THE 3 METHODS FOR GETTING THE OIL FROM THE SHALE: IT CAN DEVELOP A NEW METHOD FOR OIL EXTRACTION, USE AN EXISTING (INEFFICIENT) PROCESS, OR SUBCON THE PROCESSING OUT TOo A NUMBER OF SMALLER COMPANIES ONCE THE SHALE HAS BEEN EXCAVATED. THE RESULTS FROM THESE ALTERNATIVES ARE GIVEN AS FOLLOWS: DEVELOP NEW PROCESS PROFIT(M) $600 OUTCOMES PROBABILITY GREAT SUCCESS 0.30 MODERATE SUCCESS 0.60 300 FAILURE 0.10 (100) USE PRESENT PROCESS PROFIT(M) $300 OUTCOMES PROBABILITY GREAT SUCCESS 0.50 MODERATE SUCCESS 0.30 200 FAILURE 0.20 (40) SUBCONTRACT OUTCOMES PROBABILITY PROFIT(M) MODERATE SUCCESS 1.00 250 THE COST OF PREPARING THE CONTACT PROPOSAL IS $2M. IF THE CO. DOES NOT MAKE A BID, IT WILL INVEST IN AN…
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