In: Statistics and Probability
In a Union-Management negotiation, the following are the annual percentages of wage increases for Union for various combinations of union and management strategies:
Management
M1 M2 M3
U1 1 3 3
U2 4 2 2
Union U3 3 2 3
U4 3 4 1
U5 2 1 2
9a. (5 points) After eliminating all possible dominated strategies, list the Union payoff matrices for the 4 subgames that are developed by taking 3 of the 4 Union strategies to match the 3 Management strategies.