Thursday, October 6, 2011
Pemberton
While doing this class activity I noticed a few factors that could have initially altered our results. First, in the process of showing our signs of open or close I know a few members changed their ideas if they saw the other group change their signs. This process should have been more private so both teams couldn't change their ideas last minute. The other problem I noticed was in the negotiation process. My team specifically was taking on the idea of meeting in the middle, rather then mathematically figuring out the outcome. My partner and I trusted our competitors by agreeing with this process and in the end we got screwed over only making 20,000 profit.
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I agree, the process should have been more hidden because that affected the decisions of the other team. That changed the outcome of a few of the groups in the class. Also, trusting your competitors is a risky choice, and you and your partner obviously saw the results of this. Now that we have seen how this can end up, we have learned that sometimes competing is the only way to go because you never know what your competitor is going to do.
ReplyDeleteMy partner and I also chose to meet in the middle and remain closed for the rest of the rounds. We were also worried about the riskiness of getting screwed in the final round, so we decided to eliminate this factor by having both groups fill out their score sheets during the negotiation period, so that way no one can stab the other group in the back by changing their decision at the last second. If we didn't use this strategy, we would have ended up competing, which like you said, would have been the only way to go.
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