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ADMS 4510 - Ass.4 F2012.pdf

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Administrative Studies
ADMS 3330
Douglas Kong

Chapter 9Exercise 725 Net Income could happen if unexpected event took place which has not been taken into consideration when creating compensation contract and as such rendering a contract incomplete For example crash of stock market resulting in worldwide economic crises affected everyones net income Similarly new accounting standards such as introduction of IFRS can affect how company accounts for income and reduce its net income as a result If the latter is the case than the manager should redo the compensation contract so that it takes new accounting standards intoconsiderationrecalculate current periods compensation and bonuses based on companys performance but using other measurement than net incomeExercise 9aThe players will choose Strong Strong pair bYes the pair is Nash Equilibrium as it is the only strategy pair such that knowing the strategy choice of the other party each party is satisfied with hisher strategy cCooperate Cooperate pair is unlikely to be chosen despite the fact that its best for both parties because if one party cooperates the other one will be confiden
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