Assignment is attached in word doc
Scenario 1 Dr. Hortal, at Clinic 1, regularly participates in orthopedic clinical trials, and he oversees a high-volume clinic. Because Dr. Hortal sees so many patients, he doesn’t have time to write down information for the research forms, so he assigns the task of filling out the forms to his PAs. He is interested in what he can learn from the information in the forms, but retrieving the data is not a priority. Many patients are enrolled in the study, but because of the busy environment, some forms are only partially completed, while other forms are left blank. Dr. Hortal believes clinical research is essential for helping his patients, but time is a big constraint when it comes to proper data collection. Scenario 2 Dr. Sato, at Clinic 2, has a private practice and although her clinic is fairly new, it is experiencing a steady increase in patient volume. Dr. Sato is new to clinical research, and she does not have a strong recruitment strategy in place for the study. Her attempts at recruitment are lackluster at best. She believes in the study and would like to participate, but she is struggling to find a feasible balance between success in daily operations and clinical research. You have spoken to her in the past about patient recruitment and data collection and she is worried about resources. She states that her clinic is small, her staff is small, and she needs to prioritize her patients’ needs over research. This paper needs to be set in the following format: These questions need to be answered for both Scenario 1 & Scenario 2 1) After learning a little about Game Theory what are the potential benefits for both parties if you come up with an integrative or collaborative agreement? 2) What are the potential choices each party can make in this negotiation? 3) What choices or proposed solutions might have negative effects for the Clinical Research Manager CRM?For the physician/clinic? What choices or proposed solutions might have positive effects for the CRM? For the physician/clinic? What decision will create the optimal outcome (mutual benefit) for both parties? https://www.youtube.com/watch?v=n3viX-IXfi0&t=2s Game Theory in Negotiation: Understanding Prisoner’s Dilemma Widely recognized as an important tool in many �elds, game theory can be used in all �elds of social science, in addition to logic and computer science Game theory... (/#twitter) (/#linkedin) (/#facebook) (https://www.addtoany.com/share#url=https%3A%2F%2Fthebossmagazine.com%2Fprisoners-dilemma-negotiation%2F& title=Game%20Theory%20in%20Negotiation%3A%20Understanding%20Prisoner%E2%80%99s%20Dilemma) Reading Time: 4 minutes Widely recognized as an important tool in many �elds, game theory can be used in all �elds of social science, in addition to logic and computer science BOSS Magazine Game Theory in Negotiation: Understanding Prisoner’s Dilemma https://thebossmagazine.com/prisoners-dilemma-negotiation/ 1 of 9 8/9/2021, 7:34 PM https://thebossmagazine.com/#twitter https://thebossmagazine.com/#twitter https://thebossmagazine.com/#twitter https://thebossmagazine.com/#twitter https://thebossmagazine.com/#twitter https://thebossmagazine.com/#twitter https://thebossmagazine.com/#linkedin https://thebossmagazine.com/#linkedin https://thebossmagazine.com/#linkedin https://thebossmagazine.com/#linkedin https://thebossmagazine.com/#linkedin https://thebossmagazine.com/#linkedin https://thebossmagazine.com/#facebook https://thebossmagazine.com/#facebook https://thebossmagazine.com/#facebook https://thebossmagazine.com/#facebook https://thebossmagazine.com/#facebook https://thebossmagazine.com/#facebook https://www.addtoany.com/share#url=https%3A%2F%2Fthebossmagazine.com%2Fprisoners-dilemma-negotiation%2F&title=Game%20Theory%20in%20Negotiation%3A%20Understanding%20Prisoner%E2%80%99s%20Dilemma https://www.addtoany.com/share#url=https%3A%2F%2Fthebossmagazine.com%2Fprisoners-dilemma-negotiation%2F&title=Game%20Theory%20in%20Negotiation%3A%20Understanding%20Prisoner%E2%80%99s%20Dilemma https://www.addtoany.com/share#url=https%3A%2F%2Fthebossmagazine.com%2Fprisoners-dilemma-negotiation%2F&title=Game%20Theory%20in%20Negotiation%3A%20Understanding%20Prisoner%E2%80%99s%20Dilemma https://www.addtoany.com/share#url=https%3A%2F%2Fthebossmagazine.com%2Fprisoners-dilemma-negotiation%2F&title=Game%20Theory%20in%20Negotiation%3A%20Understanding%20Prisoner%E2%80%99s%20Dilemma https://www.addtoany.com/share#url=https%3A%2F%2Fthebossmagazine.com%2Fprisoners-dilemma-negotiation%2F&title=Game%20Theory%20in%20Negotiation%3A%20Understanding%20Prisoner%E2%80%99s%20Dilemma https://www.addtoany.com/share#url=https%3A%2F%2Fthebossmagazine.com%2Fprisoners-dilemma-negotiation%2F&title=Game%20Theory%20in%20Negotiation%3A%20Understanding%20Prisoner%E2%80%99s%20Dilemma https://www.addtoany.com/share#url=https%3A%2F%2Fthebossmagazine.com%2Fprisoners-dilemma-negotiation%2F&title=Game%20Theory%20in%20Negotiation%3A%20Understanding%20Prisoner%E2%80%99s%20Dilemma https://www.addtoany.com/share#url=https%3A%2F%2Fthebossmagazine.com%2Fprisoners-dilemma-negotiation%2F&title=Game%20Theory%20in%20Negotiation%3A%20Understanding%20Prisoner%E2%80%99s%20Dilemma https://thebossmagazine.com/ Game theory �rst emerged in 1944 in a book written by John von Neumann and Oskar Mogenstern (https://books.google.co.uk/books/about /Theory_of_Games_and_Economic_Behavior.html?id=jCN5aNJ-n-0C&printsec=frontcover&source=kp_read_button&redir_esc=y#v=onepage& q&f=false). It can best be de�ned as the study of a choice of strategies between intelligent, rational decision-makers. It uses mathematical models to explain how individuals choose between con�ict and co-operation, helping to predict outcomes in certain scenarios by modelling an individual’s best response to the strategies chosen by others. When applied to negotiation (https://thebossmagazine.com/con�ict-resolution-keys/), game theory provides a powerful approach to help negotiators understand the way a speci�c negotiation is unfolding and the opportunity to change the approach in order to achieve a more favorable outcome. There is no right or wrong game and the most appropriate one depends upon the circumstances. The key point is that negotiators have a choice as to what game he or she plays. Prisoner’s Dilemma: an explanation There are roughly 30 games that model all sorts of life’s scenarios, four of which are particularly relevant to negotiation. Of the four, “Prisoner’s Dilemma” is perhaps the most famous and most studied ‘game’ while also being the hardest to understand. In the game, two parties meet and agree a deal or a course of action. They then part company to go and e�ect the deal, each deciding if they will honor it or not. The name – Prisoner’s Dilemma – comes from Albert Tucker who, while teaching at Stanford University (https://plato.stanford.edu/entries /prisoner-dilemma/), brought the game to life. He told of two burglars arrested by police near the scene of a burglary. The two were taken away and placed in di�erent interview rooms. Each suspect was interrogated and told they must carefully choose whether to confess and implicate the other. High speed. Low price. Go back to school and save with Spectrum TV® + Internet, plus no contracts. Spectrum Learn More BOSS Magazine Game Theory in Negotiation: Understanding Prisoner’s Dilemma https://thebossmagazine.com/prisoners-dilemma-negotiation/ 2 of 9 8/9/2021, 7:34 PM https://books.google.co.uk/books/about/Theory_of_Games_and_Economic_Behavior.html?id=jCN5aNJ-n-0C&printsec=frontcover&source=kp_read_button&redir_esc=y#v=onepage&q&f=false https://books.google.co.uk/books/about/Theory_of_Games_and_Economic_Behavior.html?id=jCN5aNJ-n-0C&printsec=frontcover&source=kp_read_button&redir_esc=y#v=onepage&q&f=false https://books.google.co.uk/books/about/Theory_of_Games_and_Economic_Behavior.html?id=jCN5aNJ-n-0C&printsec=frontcover&source=kp_read_button&redir_esc=y#v=onepage&q&f=false https://books.google.co.uk/books/about/Theory_of_Games_and_Economic_Behavior.html?id=jCN5aNJ-n-0C&printsec=frontcover&source=kp_read_button&redir_esc=y#v=onepage&q&f=false https://books.google.co.uk/books/about/Theory_of_Games_and_Economic_Behavior.html?id=jCN5aNJ-n-0C&printsec=frontcover&source=kp_read_button&redir_esc=y#v=onepage&q&f=false https://books.google.co.uk/books/about/Theory_of_Games_and_Economic_Behavior.html?id=jCN5aNJ-n-0C&printsec=frontcover&source=kp_read_button&redir_esc=y#v=onepage&q&f=false https://books.google.co.uk/books/about/Theory_of_Games_and_Economic_Behavior.html?id=jCN5aNJ-n-0C&printsec=frontcover&source=kp_read_button&redir_esc=y#v=onepage&q&f=false https://books.google.co.uk/books/about/Theory_of_Games_and_Economic_Behavior.html?id=jCN5aNJ-n-0C&printsec=frontcover&source=kp_read_button&redir_esc=y#v=onepage&q&f=false https://books.google.co.uk/books/about/Theory_of_Games_and_Economic_Behavior.html?id=jCN5aNJ-n-0C&printsec=frontcover&source=kp_read_button&redir_esc=y#v=onepage&q&f=false https://books.google.co.uk/books/about/Theory_of_Games_and_Economic_Behavior.html?id=jCN5aNJ-n-0C&printsec=frontcover&source=kp_read_button&redir_esc=y#v=onepage&q&f=false https://books.google.co.uk/books/about/Theory_of_Games_and_Economic_Behavior.html?id=jCN5aNJ-n-0C&printsec=frontcover&source=kp_read_button&redir_esc=y#v=onepage&q&f=false https://books.google.co.uk/books/about/Theory_of_Games_and_Economic_Behavior.html?id=jCN5aNJ-n-0C&printsec=frontcover&source=kp_read_button&redir_esc=y#v=onepage&q&f=false https://thebossmagazine.com/conflict-resolution-keys/ https://thebossmagazine.com/conflict-resolution-keys/ https://thebossmagazine.com/conflict-resolution-keys/ https://thebossmagazine.com/conflict-resolution-keys/ https://thebossmagazine.com/conflict-resolution-keys/ https://thebossmagazine.com/conflict-resolution-keys/ https://plato.stanford.edu/entries/prisoner-dilemma/ https://plato.stanford.edu/entries/prisoner-dilemma/ https://plato.stanford.edu/entries/prisoner-dilemma/ https://plato.stanford.edu/entries/prisoner-dilemma/ https://plato.stanford.edu/entries/prisoner-dilemma/ https://plato.stanford.edu/entries/prisoner-dilemma/ https://plato.stanford.edu/entries/prisoner-dilemma/ https://plato.stanford.edu/entries/prisoner-dilemma/ https://plato.stanford.edu/entries/prisoner-dilemma/ 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https://thebossmagazine.com/ Without confessions, the police could only charge them with minor �rearms charges resulting in a one-year prison sentence. Should both burglars confess and implicate the other, they would each serve 10 years behind bars. However, if one burglar confesses and implicates the other, while the other doesn’t, then the one who collaborated with police would go free while the accomplice would serve 20 years in prison. At the very heart of Prisoner’s Dilemma is self-interest which drives actions that appear rational to the individual in a speci�c situation at that time. However, should both parties put self-interest �rst then they will end up both being worse o�, as illustrated in the table below. Recognizing Prisoner’s Dilemma in a negotiation A Prisoner’s Dilemma scenario is normally created when there is an opportunity for parties to decide whether or not they should honor the deal made after a meeting or negotiation. Keep in mind, however, that it’s easy to misread a scenario. A good example of this is when a supplier retracts their o�er after an agreement was reached. This isn’t Prisoner’s Dilemma but merely a supplier choosing not to do the deal and they will secure no bene�t. Instead, consider this example. A business has negotiated a preferential agreement for legal services with a law �rm and there are certain conditions to the deal. Firstly, the law �rm must only have top quality lawyers conducting the work, not junior colleagues billing at the higher rate. Secondly, the business needs to exclusively use this law �rm for ALL its legal requirements. Go back to school and save with Spectrum TV® + Internet, plus no contracts. Spectrum Learn More BOSS Magazine Game Theory in Negotiation: Understanding Prisoner’s Dilemma https://thebossmagazine.com/prisoners-dilemma-negotiation/ 3 of 9 8/9/2021, 7:34 PM 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https://thebossmagazine.com/ Once the deal is done, both parties need to decide if they will honor the deal. The law �rm knows it can get away with having paralegals doing most of the work unless, of course, something goes wrong. The business has other legal �rms it would like to use on a discrete basis so that it can keep the exclusive partner rates of the preferred �rm. At the very core of Prisoner’s Dilemma is that both parties have a choice as to honor the deal or default as per the legal �rm and business mentioned above. While it can be attempted by either party, the conditions for default must exist on both sides as if only one has the opportunity, then it’s actually a game of Chicken played to a win/lose conclusion. It’s also important to take note of the local culture when considering Prisoner’s Dilemma. For example, in monochronic cultures i.e. where people like to do one thing at a time and do not welcome interruptions, Prisoner’s Dilemma can be found in some scenarios. At the other end of the scale, in polychronic cultures, Prisoner’s Dilemma can’t be played if there is a relationship, as any risk of default could damage it. Trust and honor are crucial to the deal so default of any kind would be deeply o�ensive and cause loss of face and irreparable damage to the relationship. If, however, there is no relationship, Prisoner’s may be the game of choice. Countering Prisoner’s Dilemma With plenty of practice it’s possible to determine when people are playing Prisoner’s Dilemma which will help open up all sorts of choices and possibilities in terms of potentially switching it to secure a better outcome. Having said that, the best way to counter Prisoner’s Dilemma is to remove the opportunity for default. This article is adapted from Negotiation for Procurement Professionals (https://www.amazon.com/Negotiation-Procurement-Professionals-Approach- Control/dp/074947730X) (9780749477301) by Jonathan O’Brien © 2016 and reproduced by permission of Kogan Page Ltd. Jonathan O’Brien is the CEO of the international procurement and negotiation consultancy, training and tools provider, Positive Purchasing LTD (https://positivepurchasing.com/). As a specialist management consultant with over 27 years’ experience in purchasing, he has worked all over the world helping global blue-chip organizations transform their procurement capability. This has been achieved through training, education and working directly with practitioners and executive teams to drive in the adoption of category management and other strategic purchasing methodologies to deliver sustainable results and major business change. BOSS Magazine Game Theory in Negotiation: Understanding Prisoner’s Dilemma https://thebossmagazine.com/prisoners-dilemma-negotiation/