Negotiations Flashcards
active value
the value of a transaction made working with your opponent
bargaining surplus
the difference between two reservation prices
bargaining zone
the area (options) between two reservation prices
collaborative bargaining
a style of negotiation that recognizes the interests of both parties and emphasizes cooperation
cooperative bargaining
a catch-all term for many forms of interest-based negotiation that encompasses both collaborative and integrative bargaining
distributive bargaining
a type of bargaining used during surplus allocation, in which the parties decide how each will recieve the bargaining surplus
ethical negotiation
conducting a principled negotiation, according to accepted principles of right and wrong
exchange
when parties share information about their positions and interests
external value
the value of transaction made working without your opponent
integrative bargaining
a style of negotiation that emphasizes the potential for parties to integrate their interests and create joint value
negotiation
a transaction between two or more parties that creates value
passive value
the value of doing nothing
positional bargaining
bargaining from one’s point of view
preparation
when parties separately gather information
proposals
when parties discuss possible settlements
reservation price
a price at which someone feels it’s better to abandon the negotiation than agree
resolution
when parties agree on one option or fail to agree
surplus allocation
a stage in the negotiation process, in which parties distribute the bargaining surplus
transaction
an exchange between people
body language
a person’s body movements and positions in response to a specific stimulus
chronemics
time intervals used in a person’s communication, including how much time they talk about the past, present and future
generalist approach
a general system that applies to all situations
haptics
how a person communicates through touch
observational negotiation
a method of watching people in negotiation that aids us to understand (a) what we are currently experiencing, and (b) predicting the future to influence human behavior