Task: Strategic Games & Bargaining:
Consider the following hypothetical. You've entered into a contract to purchase a new house, and the closing is scheduled for next week. It's typical for some last-minute bargaining to occur at the closing table, where sellers often try to renegotiate terms of the deal' (e.g., trying to get the buyer to pay more). You have three options for the closing: (1) attend yourself; (2) send an attorney authorized to close only per the previously negotiated terms; or (3) pre-sign all the closing documents per the current terms and do not attend the closing. Evaluate the strength of your bargaining position for each option. Which of these would be the most advantageous? Explain your reasoning.