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Game Theory in Negotiation
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Module 1
Foundations of Negotiation as a Game
1
BATNA: Your Negotiation Superpower
Define Best Alternative to a Negotiated Agreement (BATNA) as the primary source of negotiation power.
2
BATNA and Your Walk-Away Point
Use your BATNA to determine your reservation price, the point at which you walk away.
3
Game Theory Fundamentals
Define the core components of a game: players, strategies, and payoffs in a business context.
Zero-Sum vs. Non-Zero-Sum Negotiations
Distinguish between zero-sum (value-claiming) and non-zero-sum (value-creating) negotiations.
5
Representing Negotiations with Payoff Matrices
Represent a simple, simultaneous-move negotiation using a payoff matrix (Normal Form).
6
BATNA's Impact on Negotiation Strategy
Analyze how a change in a player's BATNA can alter the entire strategic landscape of a negotiation.
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