Jabba and the bounty hunter (who’s really Princess Leia) are bargaining over Chewbacca. This shows how two parties may bargain and negotiate by going back and forth and by placing values they are willing to accept in the transaction. These values are achieved by each party determining their Best Alternative To a Negotiated Agreement (BATNA),Continue reading “Jabba Negotiating for Chewbacca (Return of the Jedi)”
Author Archives: hackenberryb
C-3PO and R2-D2 are Sorted for Appropriate Jobs (Return of the Jedi)
C-3PO and R2-D2 are being sorted to do specific tasks, just as workers may specialize in specific tasks within their firm. Some workers, such as C-3PO receive highly skilled jobs such as interpreting while others, such as R2-D2 receive lower-skilled jobs, such as working on the sail barge. Regardless of high or low skilled, thereContinue reading “C-3PO and R2-D2 are Sorted for Appropriate Jobs (Return of the Jedi)”
Darth Vader Hires Bounty Hunters (The Empire Strikes Back)
Darth Vader employs the bounty hunters, additional workers, to find the Millennium Falcon and Han Solo since they are becoming a much bigger problem for him relative to what they once were. This is similar to when a firm needs to hire additional workers to produce the desired output. Even though Darth Vader is veryContinue reading “Darth Vader Hires Bounty Hunters (The Empire Strikes Back)”
Yoda Training Luke to Become a Jedi (The Empire Strikes Back)
Luke goes to speak to Yoda in order to continue his Jedi training. Yoda initially told Luke that he was too old to begin the training and that it wasn’t worth it for him. Yoda did not think that Luke would be able to finish the training with the amount of time that he had.Continue reading “Yoda Training Luke to Become a Jedi (The Empire Strikes Back)”
Leia’s Home of Alderaan is Destroyed (A New Hope)
Wilhuff Tarkin gives Princess Leia the choice of telling him the location of the rebel base or else he will destroy her home planet of Alderaan. Now Leia is faced with the choice of allowing Alderaan to be destroyed or disclosing the rebel base. This, of course, relies on Wilhuff Tarkin’s threat to be aContinue reading “Leia’s Home of Alderaan is Destroyed (A New Hope)”
Leia and Han’s Motivation (A New Hope)
Princess Leia says that their mission is not over yet; however, Han says that it is for him as he “isn’t in it for the revolution” – he expects to be well paid. This is due to the heightened danger of continuing on the journey with Princess Leia. The supply of people willing to completeContinue reading “Leia and Han’s Motivation (A New Hope)”
Han and Jabba Bargain (A New Hope)
JJabba The Hutt expresses his disappointment in Han Solo for being late with a payment. Han is one of Jabba’s smugglers in the illegal goods market and recently dropped his cargo at the sight of an imperial starship, which lost Jabba money. To alleviate Jaba’s disappointment Han offers to not only pay him back butContinue reading “Han and Jabba Bargain (A New Hope)”
The Cost of Luke’s College (A New Hope)
Luke gets upset when he can’t go off to flight academy in the upcoming fall as he must stay to help his Uncle Owen during the harvest. In order to be able to stay and help his uncle for one more harvest season, there are several things that Luke must forgo; the most valuable ofContinue reading “The Cost of Luke’s College (A New Hope)”
Han and Greedo Discuss Han’s Bounty (A New Hope)
Jabba the Hutt has placed a bounty on Han Solo’s head “so large [that] every bounty hunter in the galaxy” is looking for him. This caused Greedo, along with presumably many others, to search for Han since the price for him is so high. Han explains that his life should be spared since he hasContinue reading “Han and Greedo Discuss Han’s Bounty (A New Hope)”
Luke purchases R2-D2 and C-3PO (A New Hope)
Luke and Owen switch the R2 units they wish to buy when a single part fails. A truly rational decision would factor in the expected failure of all parts; however, such an investigation would be too costly and they are limited to the knowledge that they have at hand. Thus they are using bounded rationality,Continue reading “Luke purchases R2-D2 and C-3PO (A New Hope)”