Every three years a Staff negotiates an enterprise agreement with Management. Different strategies encompass different proposals...

 

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Every three years a Staff negotiates an enterprise agreement with Management. Different strategies encompass different proposals for rates of pay and various conditions of employment (e.g., redundancy provisions, sick leave). The negotiations have all the characteristics of a zero-sum game. Table 1 shows the financial gains (in thousands of dollars) to staff from each strategy. Staff Strategies A B C Table 1: Payoffs to Staff W 70 100 80 Management Strategies X 85 95 90 Y 75 65 65 Z 70 95 75 a. Does this payoff table contain any dominated strategies? Identify them, if any, and obtain a reduced payoff table after eliminating them. (30 marks) Every three years a Staff negotiates an enterprise agreement with Management. Different strategies encompass different proposals for rates of pay and various conditions of employment (e.g., redundancy provisions, sick leave). The negotiations have all the characteristics of a zero-sum game. Table 1 shows the financial gains (in thousands of dollars) to staff from each strategy. Staff Strategies A B C Table 1: Payoffs to Staff W 70 100 80 Management Strategies X 85 95 90 Y 75 65 65 Z 70 95 75 a. Does this payoff table contain any dominated strategies? Identify them, if any, and obtain a reduced payoff table after eliminating them. (30 marks)

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