Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Prisoner's DilemmaTo understand the prisoner’s dilemma, let’s consider a story as follows:
Two peoples are arrested for a crime. The police lack enough evidence to convict either suspect and consequently need them to give testimony against each other.
The police tell each suspect that if he testifies against the other (or does not cooperate with the other), he will be rewarded for testifying and hence will be released, provided the other suspect does not testify against him. If neither testifies, the prosecutor will be unable to prove the crime and each suspect can only receive minor sentence. If both suspects confess and testify against each other, then both will receive an intermediate prison sentence. Hence the conflict of interest, the tendency to double cross and lose the confidence of the other.
Each suspect must decide under the circumstances, whether or not to confess.
It is possible to translate such a situation in the form of a table and a payoff matrix as follows:
Payoff Table
This is an example of non-zero sum, non-cooperative game.
Cretin Enterprises uses a predetermined overhead rate of $21.40 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $171,200 of total manufact
taking the role of a consultant, discuss the factors you would consider in selecting a suitable accounting system solutio for a small to medium enterprise. i has to be 1200 q\work
Assigning Costs and Assets After identifying its value chain, a firm must assign operating activity and assets to value activities. Operating costs must be assigned to the act
Assumptions for relevant costs The key assumptions made in relevant costing are: The cost behavior is recognized. The amount of fixed costs, unit variable costs, selli
Budget Preparation The organization's budget is ready following the acceptance and sanction of the decision packages. Once the budget of organization has been accepted manager
Explain Quality control and Total quality control Quality control (QC) circles can be viewed as a group oriented suggestion system for making improvements. QC circle is a sm
Characteristics of irrelevant costs
Question 1: (a) Use indifference curves to distinguish between income and substitution effects. (b) Hence, using the above techniques explain why the demand curve slope down
Hickory Company manufactures two products—14,000 units of Product Y and 6,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is cons
Explain the Break-Even Analysis The study of cost volume profit analysis is often referred to as break-even analysis and the two terms are used interchangeably by many. This i
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd