40. In negotiations, people seek to reach mutual agreement via binding contracts

Question

40. In negotiations, people seek to reach mutual agreement via binding contracts; in contrast, many negotiations are conducted by actions and pledges in the absence of a binding contract, these types of negotiations are known as negotiations. a. tacit; explicit b. transactional; transitional c. explicit; tacit d. transitional; transactional According to game theorists, a person should in single shot prisoner's dilemma games; in multi-round prisoner's dilemma games with a defined end point; and in infinite horizor prisoner's dilemma games. defect; defect; play tit-for-tat ooperate, cooperate, defect defect; play tit-for-tat, cooperate efect; play tit-for-tat; defect

Explanation / Answer

Solution :

Ans : 40 : c - Explicit and tacit

Explicit negotiations are cooperative negotiations in which people know what they are doing and come into contract with mutual understanding. There decision to enter into a contract is voluntary. Where as in tacit negotiations the case Is equally opposite. In tacit people negotiate with their behaviour and actions. People are Often dragged into forcefully without there consent into contract.

Ans 41 : b

defect, play tit for Tat , cooperate

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