Knowing one's own reservation price is sufficient for making the decision of whether to accept or reject the final offer from the other party.

Question

Quizplus · Accepted Answer

Knowing one's own reservation price allows them to determine if the final offer from the other party is acceptable or not. If the offer is higher than or equal to the reservation price, it should be accepted, and if it is lower than the reservation price, it should be rejected. Therefore, knowledge of the reservation price is sufficient for decision making in this scenario.

Knowing One's Own Reservation Price Is Sufficient for Making the Decision