Assignment: Game Theory and the Competitive Environment
Froeb and McCann (2010) suggest that businesses in a highly competitive market must be able to recognise and respond to the moves of their opponents. For example, the profit of one firm can heavily depend on the actions of other firms. Analysing this interdependence is known as Game Theory. Studying the game allows business leaders to make educated guesses as to what might happen next in the game. More importantly, it can empower a company to change the game to its advantage. For this assignment, use approximately 1,000 words to answer two out of the three questions provided that analyse strategic behaviour and strategies.
1. Think about resources apart from human resources and intellectual capital available to a company or an organisation. Determine which resources are most likely to generate sustainable competitive advantage. Then determine if the human resources and intellectual capital are more likely to generate sustainable competitive advantage than other resources you identified. Explain your position.
2. In 1754, Jean Jacques Rousseau wrote Discourses on the Origin and Foundation of Inequality Among Men. In this publication, he described an example of two hunters who start out in the morning to hunt a stag. If they work together, they are certain to kill a stag and share the meat equally. During the hunt, the two men separate, one to drive the stag to a specific point in the forest and the other to kill it. During the separation process, each hunter has the opportunity to abandon the hunt, catch and keep a rabbit, but the stag will not be killed. Assume the following:
–Each hunter values his half of the stag at 20 units of utility.
–Each hunter values the rabbit at 8 units of utility.
–The value of having spent the day hunting and having neither half a stag nor a rabbit is 0 units of utility.
• Construct a diagram that shows the payoffs for each possible outcome.
• Does either hunter have a dominant strategy? If so, what is it?
• What is the predicted outcome of the game, and is this Nash equilibrium?
• If the game is sequential, does the predicted outcome change?
3. You are in an ultimatum game with another player. That player offers you the choice of taking $10 of a $1,000 payoff or rejecting it, in which case neither you nor the other player receives anything. If you can signal to the other player what you can accept before the offer is made, what steps can you take to remove some or all of the advantage from the other player?
YOU CAN ALSO PLACE OTHER SIMILAR ORDERS ON OUR WEBSITE AND GET AMAZING DISCOUNTS!!!
Our Service Charter
Excellent Quality / 100% Plagiarism-FreeWe employ a number of measures to ensure top quality essays. The papers go through a system of quality control prior to delivery. We run plagiarism checks on each paper to ensure that they will be 100% plagiarism-free. So, only clean copies hit customers’ emails. We also never resell the papers completed by our writers. So, once it is checked using a plagiarism checker, the paper will be unique. Speaking of the academic writing standards, we will stick to the assignment brief given by the customer and assign the perfect writer. By saying “the perfect writer” we mean the one having an academic degree in the customer’s study field and positive feedback from other customers.
Free RevisionsWe keep the quality bar of all papers high. But in case you need some extra brilliance to the paper, here’s what to do. First of all, you can choose a top writer. It means that we will assign an expert with a degree in your subject. And secondly, you can rely on our editing services. Our editors will revise your papers, checking whether or not they comply with high standards of academic writing. In addition, editing entails adjusting content if it’s off the topic, adding more sources, refining the language style, and making sure the referencing style is followed.
Confidentiality / 100% No DisclosureWe make sure that clients’ personal data remains confidential and is not exploited for any purposes beyond those related to our services. We only ask you to provide us with the information that is required to produce the paper according to your writing needs. Please note that the payment info is protected as well. Feel free to refer to the support team for more information about our payment methods. The fact that you used our service is kept secret due to the advanced security standards. So, you can be sure that no one will find out that you got a paper from our writing service.
Money Back GuaranteeIf the writer doesn’t address all the questions on your assignment brief or the delivered paper appears to be off the topic, you can ask for a refund. Or, if it is applicable, you can opt in for free revision within 14-30 days, depending on your paper’s length. The revision or refund request should be sent within 14 days after delivery. The customer gets 100% money-back in case they haven't downloaded the paper. All approved refunds will be returned to the customer’s credit card or Bonus Balance in a form of store credit. Take a note that we will send an extra compensation if the customers goes with a store credit.
24/7 Customer SupportWe have a support team working 24/7 ready to give your issue concerning the order their immediate attention. If you have any questions about the ordering process, communication with the writer, payment options, feel free to join live chat. Be sure to get a fast response. They can also give you the exact price quote, taking into account the timing, desired academic level of the paper, and the number of pages.