reservation price

The following items are tagged reservation price:

Solar Power

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Georg Berkel Two-party, one-issue distributive negotiation about the acquisition of a renewable energy firm … Read More 

The Anchoring Effect and How it Can Impact Your Negotiation

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Goal setting affects performance. In a review of goal-setting research, negotiation scholars Deborah Zetik and Alice Stuhlmacher of DePaul University found that when negotiators set specific, challenging goals, they consistently outperform those who set lower or vague goals. … Read More 

Radwaste II

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Tod Loofbourrow, Lawrence Susskind, Denise Madigan and Wendy Rundle Six-party, multi-issue negotiation among state and local government, enviromental, and industry representatives to select one of three sites for low-level radioactive waste disposal … Read More 

Radwaste I

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Tod Loofbourrow, Lawrence Susskind, Denise Madigan and Wendy Rundle Seven-party, multi-issue, scoreable negotiation among regulatory, environmental, tribal, local government, and industry representatives to choose criteria for selecting a low-level radioactive waste disposal site … Read More 

Team Building Using Negotiation Skills

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To avoid conveying weakness to the other side, rather than calling for a break at the first sign of trouble, some negotiation teams devise secret signals they can use to bring wayward members in line—for instance, someone might stretch out her arms to communicate to another member that he’s getting off track. … Read More 

Ocean Splash

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The Consensus Building Institute, Inc. Two-party, two-issue scoreable negotiation between a charity and a corporate sponsor regarding the number and placement of advertising banners at a fundraising walk … Read More 

Power in Negotiation and Self-Fulfilling Prophecies

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When you expect people to be competitive, it’s not only your own behavior that changes. You also set up a self-fulfilling prophecy, such that your expectations about the other side’s behavior lead him to behave in ways that confirm your expectations. … Read More 

Negotiated Development in Redstone

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Lawrence Susskind and John Forester Two-party, two-issue scoreable negotiation between a developer and a neighborhood association representative regarding the development terms of a new condominium project … Read More 

Monroe Energy Assistance Game I

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Allan Morgan and Lawrence Susskind Six-party, four-issue negotiation among representatives of consumer groups, political leaders, and public utilities to develop a statewide energy assistance plan for low-income residents … Read More 

Law Library, The

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John Palenberg, Elizabeth Gray, Deborah Winter, and Wayne Davis Two-party negotiation between representatives of two law firms over the sale of a collection of law books … Read More 

Building Trust in Negotiations

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Adapted from “Strike the Right Balance Between Trust and Cynicism,” by Harvard Business School professor Max H. Bazerman, first published in the Negotiation Briefings newsletter.  Negotiators often must choose between trusting their counterparts and being cynical of their motives. The consequences of such decisions can be serious in dealmaking: trust too much, and you’ll lose big; … Read More 

Lake Wasota Fishing Rights

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Denise Madigan, Tod Loofbourrow with teaching notes by Eileen Babbitt and Lawrence Susskind Six-party, six-issue, scoreable negotiation among representatives of tribal, state, federal, recreation, and business interests over fishing rights in a large lake … Read More 

Humboldt

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Lawrence Susskind Eight-person, multi-issue mediation among regional government, environmental, development, and business interests regarding environmental and economic tradeoffs and ethical issues in the development of a manufacturing plant … Read More 

Price Negotiation Advice for Consumers

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It’s official: Price negotiations aren’t just for big-ticket items anymore. The prices of furniture, electronics, wine, jewelry, and other “medium-ticket” goods are now frequently up for discussion. The ancient art of haggling has made a comeback, so brush up on your skills with our six price negotiation tactics. … Read More 

Dirty Laundry

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Pat Aaron Three-person mediated small-claims dispute between a dry cleaning business and a customer over compensation for torn shirts … Read More 

Negotiation Preparation Strategies

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When an important negotiation is looming, “winging it” is never the answer. The best negotiators engage in thorough negotiation preparation. That means taking plenty of time to analyze what you want, your bargaining position, and the other side’s likely wants and alternatives. … Read More 

DEC v. Riverside

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David Lax, James Sebenius, Lawrence Susskind, and Thomas Weeks Two-party, multi-issue, scoreable negotiation between a manufacturer and a state environmental agency to reach a settlement over the manufacturer’s pollution of a local river … Read More 

What is the Anchoring Bias?

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It may be the most burning question in business negotiation: Should you make the first offer? Traditionally, negotiators were advised to wait for the other side to make a first offer. According to this reasoning, the other side’s offer gives you valuable information about his goals and alternatives. More recently, however, research on the anchoring bias has … Read More 

Contract Negotiations in the Building Trades

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Lawrence Susskind Nine-party, multi-issue contract negotiation among three coalitions involved in the building trades; includes internal coalition meetings before the external negotiations … Read More 

For Price Negotiators, Preparation is the Key to Success

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Some cultures have a long tradition of haggling—bargaining back and forth about the price of an item—in markets and bazaars. By contrast, in the United States and many other countries, haggling between buyers and sellers is an under-practiced skill. You might routinely pass up opportunities to haggle in situations where financial negotiations are not the … Read More 

Cape Development Case

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Two-party real estate negotiation between a developer and a representative of the owner of a parcel surrounded by the developer’s land, over the future of both parcels … Read More 

BATNA: Negotiation Preparation to Help Avoid Giving Up at the Bargaining Table

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When you expect an opponent to be competitive, your confidence in the outcomes you can achieve in negotiation is likely to plummet. In negotiation research with Adam Galinsky of Northwestern’s Kellogg School of Management, negotiators were provided with some background about their counterpart including information on how competitive their counterpart has been in previous negotiations. … Read More 

Multimode, Inc.

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Lawrence Susskind Two-party intra-organization negotiation between a company’s financial and human resources officers regarding the amount of a budget increase … Read More 

67 Fish Pond Lane

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Elizabeth Gray, Mark Gordon and Bruce Patton Two-party distributive and potentially integrative negotiation between principals over the sale of a house … Read More 

Bentley Convertible

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Roger Fisher and Bruce Patton Two-party distributive negotiation over the sale of a rare automobile … Read More 

Creating and Claiming Value Through Haggling – Assess The Other Party’s BATNA in Dealmaking Negotiations

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Now it’s time to assess the best deal you might get. Figuring out the other party’s reservation price is the key to knowing how far you will be able to push him, write Deepak Malhotra and Max H. Bazerman in their book Negotiation Genius: How to Overcome Obstacles and Achieve Brilliant Results at the Bargaining … Read More 

Dear Negotiation Coach: Mixing Business and Friends

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Q:My wife and I are friends with another couple who live in our neighborhood. For many years they have told us that they love our home and street and that if we ever wanted to move, they would like to buy our house. From the number of times they have said it, we know they’re … Read More 

Negotiating with Your Agent

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Toby knew that Dara was the perfect New York literary agent for him as soon as he heard her friendly, professional voice on the phone. Never mind that 17 other agents had already rejected his book proposal. Dara’s enthusiasm and recent sales convinced him to sign the three-year exclusive contract she mailed to him in … Read More 

Master the Art and Science of Haggling for More Productive Business Negotiations

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Just like the prices of houses, cars, and other big-ticket items, the prices of furniture, electronics, wine, jewelry, another “medium-ticket” goods are now frequently up for discussion. The ancient art of haggling—the back-and-forth dance of offers and concessions between buyer and seller—is making a comeback, and you would do well to brush up on your … Read More 

In negotiation, it’s all in the timing

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On July 11, 2000, U.S. president Bill Clinton welcomed Israeli Prime Minister Ehud Barak and Palestinian Authority Chairman Yasser Arafat to a summit at Camp David aimed at resolving the Israeli-Palestinian conflict once and for all. The summit covered various contentious issues, including territory, settlements, security, and the status of refugees. After about two weeks, on … Read More 

Are You an Overconfident Negotiator?

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In 1901, J.P. Morgan wanted to buy the Carnegie Steel Company from its founder, Andrew Carnegie. Carnegie was 65 years old and considering retirement. As Harold C. Livesay recounts in his book Andrew Carnegie and the Rise of Big Business (Little, Brown, 1975), when Carnegie finally decided he was ready to sell, he jotted down his … Read More 

Too Tough Talk?

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Adapted from “Break Through the Tough Talk,” by Kristina A. Diekmann (University of Utah) and Ann E. Tenbrunsel (Notre Dame University), first published in the Negotiation newsletter. You might think that cultivating a reputation as a tough bargainer might be the best way to cope with a competitive opponent. But this isn’t necessarily the best strategy. … Read More 

Advertising at a charity walk

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The PON Clearinghouse offers hundreds of role simulations, from two-party, single-issue negotiations to complex multi-party exercises. Ocean Splash is a two-party, two-issue scoreable negotiation between a charity and a corporate sponsor regarding the number and placement of advertising banners at a fundraising walk. SCENARIO: The U.S. Cancer Association (USCA) chapter in Sixton City is organizing its … Read More 

Budget turmoil inside a hospital

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The PON Clearinghouse offers hundreds of role simulations, from two-party, single-issue negotiations to complex multi-party exercises. Negotiating Budget Cuts at Newtowne Hospital is a six-person negotiation among hospital administration and employee representatives to reach consensus on budget cuts in three departments. SCENARIO: Dr. Van Hagen, a distinguished heart surgeon, will soon join the staff at Newtowne Hospital, … Read More 

Check Your Confidence

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Many negotiators understand the importance of estimating the other side’s reservation price—the worst deal he would accept from you. However, despite the fact that such estimates often are based on hints, clues, and speculation, negotiators are frequently overconfident that their estimates are accurate. … Read More 

Discussing the bottom line in budget negotiations

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The PON Clearinghouse offers hundreds of role simulations, from two-party, single-issue negotiations to complex multi-party exercises. Multimode, Inc. is a two-party intra-organization negotiation between a company’s financial and human resources officers regarding the amount of a budget increase. SCENARIO: T. Boyd, a Vice President of Budget and Finance at Multimode, Inc., (a manufacturing firm) … Read More