Suppose you work for Delphi, a supplier for various automakers. A friend you have at Ford mentions that they are accepting bids for a supplier who will design and manufacture the steering column of the new Ford Focus. She says that there have been two bids so far, and she tells you that these bids have been $6 million and $7 million, respectively. She says that her colleagues want to work with Delphi, but that they have been instructed to take the lowest bid. Then she invites you and your coworker to a fancy dinner, where she suggests that $5.9 million would be a favorable offer for all involved. You think $5.9 million is a good number, and you know that neither of the other bidders will have an opportunity to revise their bid.
What should you do?
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