Let's play a game We will be dividing $10 Our game will have two steps First, we will determine how much of the $10 we will keep, and how much of it we will offer to you In the second step, you get to decide whether to accept or reject our offer If you accept the offer, then we will pay you the amount that we offered you, and we will keep the rest If you reject the offer, then both of us will receive $0 (read we both end up with none of it) So here is our offer We will keep $9 90 And we will offer you 10 cents Do you accept the 10 cents or do you reject our offer Please explain your decision Now suppose that you find yourself bargaining over a contract Please also explain why knowing about this game may influence your bargaining strategy NOTE we are playing with hypothetical moneyno funds will be exchanged

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Question: Let's play a game.We will be dividing $10.Our game will have two steps. First, we will determine how much of the $10 we will keep,

Let's play a game.We will be dividing $10.Our game will have two steps.

First, we will determine how much of the $10 we will keep, and how much of it we will offer to you.
In the second step, you get to decide whether to accept or reject our offer.
If you accept the offer, then we will pay you the amount that we offered you, and we will keep the rest.
If you reject the offer, then both of us will receive $0 (read: we both end up with none of it).

So here is our offer.We will keep $9.90.And we will offer you 10 cents.Do you accept the 10 cents or do you reject our offer?Please explain your decision.Now suppose that you find yourself bargaining over a contract.Please also explain why knowing about this game may influence your bargaining strategy. NOTE: we are playing with hypothetical moneyno funds will be exchanged.

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