BUS403: Negotiations and Conflict Management

Watch this video on the Prisoner's Dilemma, a classic example of game theory. The participants base their strategy on what they think the other party will do. The Prisoner's Dilemma illustrates how individual choices can lead to the worst situation possible. The situation devolves as each side tries to outplay the other. This situation offers a lesson for mergers and acquisitions of smaller or larger companies.