Game Theory 101: Bargaining

Game Theory 101: Bargaining

Tomorrow, you will go to your boss and ask for a raise. You need at least $20 per hour to stay; your boss is unwilling to pay you any more than $50. You should reach an agreement--but will the wage be closer to $20 or $50?<div><br /><div></div><div>This is the essence of bargaining. Using the same crystal clear logic of the Game Theory 101 series, William Spaniel explains the sources of "bargaining power"--the strength that allows you to successfully demand wages closer to $50. In doing so, he uncovers the bargaining in everything, including car negotiations, <i>Breaking Bad</i>, <i>Deal or No Deal</i>, McDonald's Monopoly, sports free agency, cable companies, security deposits, war, diamond manufacturing, labor unions, government shutdowns, nuclear showdowns, price fixing, unemployment benefits, legal battles, and police pullovers. With bargaining so pervasive, this is one book you can't afford not to have.</div></div>