Victors Dilemma Essay Example | Topics and Well Written Essays - 500 words

Victors Dilemma - Essay Example Considering the dangers engaged with the initial two alternatives, the likelihood of gaining cash by picking any of the two changes. In the Figure 1, the three alternatives are generously assessed as far as the likelihood of each and the payouts every choice involves. On the off chance that Victor decides to sue the driver, there is an equivalent possibility of him to win or to lose. Be that as it may, this alternative will cost him a level expense of $500. Losing the case will cost him only the $500 expense for suing. The choice of taking steps to sue naturally costs Victor $100 for the letter. Further choices will rely upon the driver's response. On the off chance that the driver offers a settlement offer of $1000, this implies there is a higher possibility of him winning the case on the off chance that he decides to sue. This is spoken to by a 60/40 likelihood in the figure. On the off chance that the driver overlooks the letter, it suggests that Victor's possibility of losing the case on the off chance that he wishes to seek after the case in the court diminishes. He may to overlook the case too. This leads hi m to doing the third choice which is sitting idle. Doing nothing subsequent to taking steps to sue costs him $100 for the letter. However, on the off chance that he picks the third alternative without sending any letter, it would not cost him anything. It even gives him harmony, which is esteemed as $100. Figure 2 shows the evaluated estimation of every choice.