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Boris's Brexit Dilemma (C)

Reference: DARDEN-QA-0958-E
Number of pages: 2
Publication Date: Mar 13, 2023
Source: Darden University of Virginia (USA)
Type of Document: Case

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Description

In 2019, several years after a referendum in which British voters chose “Brexit,” meaning the United Kingdom’s exit from the European Union (EU), the transitional agreement between the United Kingdom and the EU is due to expire. Prime Minister Boris Johnson must prepare for two facets of Brexit, each of which involves a decision: (1) whether to invest in mitigation funding in case of a hard Brexit (meaning one without a trade deal in place); and (2) how to handle the nonnegotiable trade agreement proposal from the European Union. Johnson must decide quickly, with the goal of maximizing the United Kingdom’s chances of getting the best possible deal. The A case lays out the context and considerations. The B and C cases offer new details. This case set is taught at Darden in the second year “Games, Competition and Cooperation” course. It would also be suitable in a module covering game theory, negotiations, or macroeconomics.

Keywords

Boris Johnson Brexit European Union extensive-form game Game theory International trade Macroeconomics Nash equilibrium Negotiation sequential game United Kingdom