Consider an Example of the Prisoner's Dilemma Where 2 Firms

question 86

Multiple Choice

Consider an example of the prisoner's dilemma where 2 firms are making sealed bids on a highway- construction contract and each firm is allowed to bid either $100 million or $120 million.If both firms bid the same price,the job is shared equally and each firm earns half the value of its bid.Otherwise the lowest bidder wins the contract and receives the full value of its bid (and the other bidder earns zero) .The cooperative outcome in this situation is

• A)both firms bid $60 million.
• B)both firms bid $120 million.
• C)both firms bid $50 million.
• D)one firm bids $100 million,the other firm bids $120 million.
• E)both firms bid $100 million.

---

Definitions:

Source Oriented

A method of organizing information in records or systems based on the origin or source of the data.

SBAR

A communication framework used in healthcare to facilitate concise and clear information exchange; stands for Situation, Background, Assessment, and Recommendation.

Handoff Report

A crucial communication process in healthcare where responsibility and information are transferred from one caregiver or team to another, to ensure continuity and safety in patient care.

DAR

Documentation method used in nursing that stands for Data, Action, and Response, aimed at creating effective and efficient records of patient care.