New Tools For Negotiators
New tools for Negotiators
A few simple ideas make it possible to construct powerful strategies for even the most complex deals.
Negotiations are the stuff of business life, and volumes of advice tell managers how to prepare for and conduct them. But most of the advice applies to deals that are simpler than those pursued today. Negotiations now typically involve many parties that have an interest in the outcome—the "stakeholders"—and require decisions on many complex issues. Immense sums of money may ride on the outcome.
Sophisticated support for negotiators is available—for example, computer simulation models based on dynamic game theory. These models can predict the behavior of stakeholders in multiparty deals and guide negotiators to winning strategies. As yet, however, few business leaders feel comfortable surrendering their personal judgment on such crucial issues to a "black box."
We have therefore been developing a middle way: a set of readily understood tools to......
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