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Describe the four fundamental principles of integrative negotiation.
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- Do you think integrative approach to negotiation is more effective that distributive approach?Demand and supply are both specified as functions of price, ruling out other extraneous influences like obligation and government commands. How does this joint dependency enhance market efficiency, compared with relying on direct binary negotiation?Suppose that the world is comprised of two countries: X and Y. Because of the absence of centralized world governance, the control of global externalities is particularly challenging, which is the case with greenhouse gases linked to climate change. The entries in the following Payoff Table describe each country's well-being under different abatement patterns: If both countries were able to enforce a binding agreement, they would agree on an efficient arrangement (or strategy profile) that also is equitable. We will refer to such arrangement as a cooperative solution. However, absent an appropriate global enforcement mechanism, they would engage in non-cooperative behavior. Define the appropriate concepts of Efficiency and (non-cooperative) equilibrium, find the equilibrium and verify that it is not efficient in the context of a static strategic game in which both countries select their abatement levels simultaneously. Taking into account the common resource nature of the problem,…
- After seven years of negotiations, 12 countries—including the United States, Japan, Vietnam, and nine other Pacific Rim countries—crafted the Trans-Pacific Partnership (TPP). A key feature of the TPP was the lifting of tariffs on many products traded between the member countries, ranging from agriculture to footwear. Before the United States ultimately pulled out of the deal, each member country went through the process of ratifying the agreement, with numerous domestic firms and collective interests voicing opposition. In the United States, New Balance was one of these opposing firms, specifically stating its disapproval of phasing out U.S. tariffs on shoes made in Vietnam. What would a reduction of U.S. tariffs on Vietnamese shoes do to the supply of Vietnamese shoes in the United States? What impact would this have on the equilibrium quantity of shoes sold in the United States? Would the tariff reduction cause the equilibrium price for shoes in the United States to increase or…After seven years of negotiations, 12 countries—including the United States, Japan, Vietnam, and nine other Pacific Rim countries—crafted the Trans-Pacific Partnership (TPP). A key feature of the TPP was the lifting of tariffs on many products traded between the member countries, ranging from agriculture to footwear. Before the United States ultimately pulled out of the deal, each member country went through the process of ratifying the agreement, with numerous domestic firms and collective interests voicing opposition. In the United States, New Balance was one of these opposing firms, specifically stating its disapproval of phasing out U.S. tariffs on shoes made in Vietnam. ● What would a reduction of U.S. tariffs on Vietnamese shoes do to the supply of Vietnamese shoes in the United States? ● What impact would this have on the equilibrium quantity of shoes sold in the United States? ● Would the tariff reduction cause the equilibrium price for shoes in the United…Why do issues of bounded rationality and opportunism increase the costs of using contracts in market-based interaction?
- In 2000, the President of the United States gathered relevant parties together for peace negotiations at Camp David, the presidential retreat in Maryland. He hoped to move Israel and Palestine closer to peace. In the end, the negotiations were unsuccessful for a few reasons. First, neither side was willing to end their demand for full control of the city of Jerusalem, which both parties wanted as their capital under a two-state solution. Second, violent groups targeted regular civilians to protest the negotiations in the hopes that the talks would be derailed. Ultimately, because of these and other reasons, the negotiations failed. The violent groups who targeted civilians engaged in which strategy? A. Outbidding B. Coercion C. Provocation D. SpoilingAssume that the countries of Irun and Urun are the only two producers of crude oil. Further assume that both countries have entered into an agreement to maintain certain production levels in order to maximize profits. In the world market for oil, the demand curve is downward sloping. Refer to Scenario 16-1. The fact that both countries have colluded to earn higher profit shows their desire to keep production levels above the monopoly level of output. below the Nash equilibrium level of output. equal to the Nash equilibrium level of output above the Nash equilibrium level of output.The Cartel Model: Iran and Iraq. For simplicity, let’s look at the production of just two members of the OPEC: Iran and Iraq. For further simplicity, let’s assume that there are only two production levels available: 2 or 4 million barrels of crude oil per day. Depending on their decision, the total output on the world market could be 4, 6, or 8 million barrels. Suppose the price could be $25, $15, and $10 per barrel respectively. Extraction costs are $2 per barrel in Iran and $4 per barrel in Iraq. a. Complete the payoff matrix (values in 000,000). Round up your answers to no decimals. Firm 2 Q = 2 Q = 4 Firm 1 Q = 2 , , Q = 4 , , b. The NE is(are): (Write A, B, C, D, or E) A. (Q = 2, Q = 2) B. (Q = 4, Q = 4) C. (Q = 2, Q = 4) D. (Q = 2, Q = 2) & A. (Q = 4, Q = 4) A. (Q = 4, Q = 2)
- Under U.S. law, in international contracts, the parties can agree on how and where their disputes will be resolved and which law will apply, as long as the place and the law selected bear some relationship to the nature of the contract and its place of performance. True or False?Why does Manuel Velasquez think that multinational corporations are in a situation akin to a prisoner’s dilemma?The following office chairs are rated on the attributes: Comfort and Durability. The scale used for both attributes is 100. Both these attributes are desirable (that is you would prefer a higher value for both). Which products comprise the efficient frontier? What is/are the dominated alternatives? Assume that everything else, including the price of the chairs, are the same. Comfort | Durability 55 Chair A Chair B Chair C Chair D Chair E Chair F 50 75 75 60 60 70 70 55 65 80 65