In a union-management negotiation, the following are the percentages of annual wage increase for various combinations of

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Question:

In a union-management negotiation, the following are the percentages of annual wage increase for various combinations of union and management strategies:

Management

M1 M2 M3

U1 1 3 3

U2 4 2 2

Union U3 3 2 3

U4 3 4 1

U5 2 1 2

Determine the best mixed strategies for the union and management respectively and the expected percentage of annual wage increase (i.e., value of the game) for the union.