Exhibit 9-4 Two-Firm Payoff Matrix
-Assume costs are identical for the two firms in Exhibit 9-4.If both firms were allowed to form a cartel and agree on their prices,equilibrium would be established by:
Definitions:
Observers
Observers are individuals or entities who watch or monitor events, behaviors, or processes, often for the purpose of recording data, understanding dynamics, or ensuring compliance.
Common Ground
Shared interests, beliefs, or values among parties that can be used as a basis for agreement.
Group Negotiations
A process involving multiple individuals or groups coming together to discuss and reach agreements on shared interests or conflicts.
Negotiating Dyad
A pair of individuals engaged in negotiation, each representing their own interests or those of their organizations.
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