Negotiation and Game Theorists Essay

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Effective Negotiation- Fells, R. (2010).

- Negotiation= DNA
-2 strands of the negotiation DNA: the parties,each with its objectives and priorities, and the key elements that hold them together, namely reciprocity, trust, power, information, exchange, ethics and outcome.

-Integrative Bargaining: It refers to the system of activities which is instrumental to the attainment of objectives which are not in fundamental conflict with those of the other party and which therefore can be integrated to some degree. Such objectives are said to define an area of common concern, a problem. Integrative bargaining and distributive bargaining are both joint decision-making processes. However, these processes are quite dissimilar and yet are rational responses to different situations. Integrative potential exists when the nature of a problem permits solutions which benefit both parties, or at least when the gains of one party do not represent equal sacrifices by the other. This is closely related to what game theorists call the varying-sum game.

-Distributive Bargaining: It is a hypothetical construct referring to the complex system of one party's goals when they are in basic conflict with those of the other party. It is type of activity most familiar to students of negotiations; in fact, it is 'bargaining' in the strictest sense of the word. In social negotiation, the goal conflict can relate to several values; it can involve allocation of any resources, e.g. economic, power, or

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