Whatis the Reservation Level?
RL = Attribute value that a negotiator cannot violate (for a specific reason)
Strictness (soft/hard) vs. flexibility
Importance of information (updates)
What is the Zone of Possible Agreements?
ZOPA
= Distance between the parties’ reservation levels (RL)
= Set of feasible alternatives preferred over BATNA
What is the Aspiration Level?
AL = Attribute level that a negotiator wishes to achieve
Update due to new information
Impact on opening offer (OO) & evaluation of agreement
What does the Opening Offer entail in a negotiation?
Complete vs. incomplete offers
Potential risks of extreme offers and ‘nice’ offers
Anchor negotiations
Influence the opponent‘s aspiration level (AL)
What is a BATNA?
BATNA = best alternative to negotiated agreement
Decision alternative that can be achieved if the negotiation fails
Can but need not be defined the negotiation problem!
→ BATNA as source of power
→ BATNA ≠ reservation level
What is a Surplus?
Surplus = Difference between RL and agreement
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