MGT 3513 Study Guide - Midterm Guide: The Negotiation, Wart, Emotional Detachment
Document Summary
November 9: common myths about interdependent decision making. It"s a game of wits: i can outsmart them. It"s a game of strength: show them who"s boss. It"s a game of chance: hope for the best: prisoner"s dilemma. With known end-date, to figure out optimal strategy: backward induction (end of relationship is a one shot, so defect) whenever you know someone is about to leave, your desire to cooperate decreases substantially. Without unknown end-date, to figure out optimal strategy: here you should be more cooperative, but do not be cooperative all the time, it leaves you open to exploitation. No one. : less control: since there are so many people you have less control over all of them, which decreases the benefits of cooperating. Resource conservation dilemmas: how much are they going to take from some available common sources you take in times of the threat of scarcity. Public goods dilemmas: how much people are going to contribute to the public sources.
