
212 Applying Analytics: A Practical Introduction
natives simultaneously; many decisions are made sequentially, and there are
models available for these situations as well. The prisoner’s dilemma is also
an example of a symmetric game – where the decisions, payoffs, and utilities
available to each player are identical. In reality, asymmetric games are mo re
common.
If you are interested to learn more about game theory, my favorite intro-
duction to the subject is in Chapter 4 of Raiffa et al. (2002).
9.8 Negotiations
A negotiation
is a special type of decision in which two or more decision makers
work jointly to come to a decision. The outcome each party ...