Repeat Problem 3, but change it as follows. Fred and Barney each have an additional option: to

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Repeat Problem 3, but change it as follows. Fred and Barney each have an additional option: to withdraw from the negotiations. If either one withdraws, he receives a payoff of $1.50. Everything else is the same as in Problem 3.
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Microeconomics

ISBN: 978-1118572276

5th edition

Authors: David Besanko, Ronald Braeutigam

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