The clearest method for achieving exclusivity is an exclusive negotiating period, during which both sides agree not to talk to third parties, even if approached unexpectedly by others. In some arenas, these terms are called no-talk periods.
ZOPA
Zone of Possible Agreement: The bargaining range created by the two reservation values. The ZOPA defines a ÒsurplusÓ that must be divided between the parties. (Robert H. Mnookin, Scott R. Peppet and Andrew S. Tulumello, Beyond Winning [Belknap Press, 2004], 19)
The following items are tagged ZOPA.
How to DEAL with Threats
Our DEAL approach allows you to respond to threats without conveying weakness or escalating the conflict, redirecting talks toward a focus on each other’s interests.
Win-Win Negotiations: Managing Your Counterpart’s Satisfaction
As the following points will demonstrate, ensuring that your counterpart is satisfied with a particular deal requires you to manage several aspects of the negotiation process, including his outcome expectations, his perceptions of your outcome, the comparisons he makes with others, and his overall negotiation experience itself.
5 Tips for Closing the Deal
What to do when you’ve done everything right, but you still don’t have an agreement.
Working with Your Agent – and Someone Else’s – In Negotiation
Negotiations become especially complex when agents are involved on two or more sides.
In the course, of their research, Robert Mnookin and Lawrence Susskind discovered that many negotiators often mistakenly assume that an agent representing the other side
In New York, Fast-Food Workers Test Their Negotiation Skills
On November 28, dozens of employees at several fast-food restaurants in New York City walked off their jobs and demanded better pay and unionization. In doing so, they launched what is believed to be the largest coordinated campaign in the United States to unionize fast-food workers from different restaurants, reports Steven Greenhouse in the New York Times.
Finding More Value at the Bargaining Table
How can you uncover additional value, make useful trades, and put together a package that exceeds your party’s expectations? Here are four value-creating moves that all negotiators should add to their toolkit.
Negotiating for Continuous Improvement: Report Negotiation Results Internally
To further improve negotiations, a company could publish an internal negotiation newsletter that can be distributed through a secure company intranet. Each month, the person overseeing the newsletter could choose a negotiation involving someone within the company.
A Worse Deal than You Think?
Most negotiators leave the bargaining table believing they were better at pushing the other side to its limit than was actually the case, according to recent experimental studies by Richard P. Larrick of Duke University and George Wu of the University of Chicago.
The Enduring Power of Anchors
In past issues of Negotiation, we’ve reviewed the anchoring effect – the tendency for negotiators to be overly influenced by the other side’s opening bid, however arbitrary. When your opponent makes an inappropriate bid on your house, you’re nonetheless likely to begin searching for data that confirms the anchor’s viability. This testing is likely to affect your judgment – to the other party’s advantage.
Psychologists Amos Tversky and Daniel Kahneman identified the anchoring effect in 1974. Participants watched a roulette wheel that, unknown to them, was rigged to stop at either 10 or 65, the estimated the number of African countries belonging to the United Nations. For half of the participants, the roulette wheel stopped on 10. They gave a median estimate of 25 countries. For the other half, the wheel stopped on 65. Their median estimate was 45 countries. The random anchors dramatically affected judgment.
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