Problem: Think of a time when you were involved in strategic decision making. This could be a business situation or a personal situation. It could be anything from purchasing inputs for a manufacturing firm, to dividing up household chores, to deciding whether we should we punt or go for the first down or kick a field goal?
Q1. Discuss your dominant strategy for the situation.
Q2. What was the other personâ??s dominant strategy?
Q3. What was your unique solution?
Q4. Were you happy with the outcome?
Q5. If someone was unhappy with the outcome,what dominant strategy should have been.
Please answer each part of the questions and use game theory terminology. Make sure that you have an adversarial situation with at least two parties.