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[CDPS] G2 - (CO) Chapter 3- Game Theory Member: Sunny / Cindy / M.J /…

- - - - apply on the business
  - - - Barry → 23 :black_flag:black card
      - each student →1 :<3:red card
        
        23 :silhouettes: get $20 / 3 :silhouette: get nothing
        
        getting sufficiently large slice would more than compensate for the reduction in the size of the pie
        
        ▲case: shortage of Nintendo's video game cartridges
    - - Adam → 26 :black_flag:black card
        
        free - form negotiation
        
        completely "symmetric positions" :!?:
        
        50/50 split
        
        turn down $20 offer
        
        :tada:$ 2,600 in total prize
        
        1 :black_flag:&1 :<3: = winner :tada:$100
      - each student →1 :<3:red card
- - - - Added value helps to see the strength of your positions
      - Consider minimum payoffs you are willing to accept
      - Consider how much others are willing to pay to have you :check:
    - - Sum of individual players ≠ A group of people as one player
- - - - game rule
    - - match any competing bid
    - - Retailer's rule
    - - Services aren't negotiable
  - - - Adam can make offers (new rule)
      - Cards (Then)
        
        Black Cards- Adam-26
        
        $100
        
        Red Cards- other 26 students
      - Cards (Now)
        
        Ultimatum Game
        
        Accept
        
        Deal
        
        Reject
        
        Game over
      - Don'ts :red_cross:
        
        No Counteroffer
        
        Deal's done or lost forever
        
        Adam has only one chance with each student and vice versa
  - - - less than $100
      - $ 100 eqally
    - - A person who makes the offer
      - Offer a persuasive amount
    - - every action is a reaction
      - But reactions don't need to be equal or opposite
    - - Put one's self in their shoes
      - Look forward & backward
- - - - Texas Shoot-Out
        
        a common rule
        
        when 2 partners set up business & 1 wants to end
        
        dissatisfied partner states a price $
      - Movie case
        
        Studio scramble to find a new director
        
        Budget of studio: 750K - 2M
        
        Settled at 250K
        
        Lawyer save 500K for studio
        
        Studio head is happy yet
        Afraid the protest of star cast
        
        1 more item...
        
        Agent successfully deal for client
        Salary is close to initial offer
        
        Screenwriter ask: 300K - 0
        
        Agent
        
        Failed to consider the position of studio
        
        Focus on the position of screenwriter
        
        Lawyer
        
        Successfully save money for studio
        He made the agent feel that was the best situation for him
        
        Fail to realize the whole game
        Star cast acted the most critical role in this game
- - - - A small change affects everything :!:
    - - Misunderstood the scope of the printer game
        
        Low-price strategy
      - Epson didn't foresee the chain reaction it set off
        
        Take in small
        
        Reasonable
        
        Take in big
        
        Neglect the general situation
  - - - Every game is linked to others
        
        World economies
  - - - Industry boundaries
- - - - Own difference in information
        
        Put yourself in other players' shoes
        
        Allocentrism
        
        Put both the egocentric and the allocentric perspectives together
        
        Added value
        
        Assess how valuable they can receive
        
        Rules
        
        Anticipate their reactions
        
        Perceptions
        
        Realize how they see the game
      - Different motivations effect people's decision and behavior
- - - - HP fighted back
        
        Epson responded by reducing price
        
        Others join the game
        
        HP promoted ink-jets printer aggressively
        
        Epson was doubly squeezed
- - - - :star2: you got the choice of whether to buy or sell