Instructor
Program
Open Courses
Term
Fall A (Aug-Oct)
Timing
Tuesdays and Thursdays at 1:40 pm - 3:10 pm
Format
In-person
Course overview
The course is subtitled “Bargaining for Value” because the notion of “bargaining” implies interaction and communication among self-interested players of diverse backgrounds and styles. “Bargaining for value” implies that the quantum of value extracted in a deal may vary within a range of potential values. “Negotiation” is a commonly-accepted term that cap- tures the essence of these processes in a competitive or cooperative environment.
This course surveys the theoretical and behavioral underpinnings of negotiation practices and develops skills that enhance the ability to capture value in cooperative and competitive bargaining scenarios.
Key takeaways
- Develop familiarity with basic negotiation concepts, contexts, and methods that influence how value is captured in competitive and cooperative bargaining. Topics will include distributive (“zero sum”) bargaining; integrative (“win/win”) bargaining; determination and evaluation of bargaining constraints; how to diagnose bargaining scenarios and contexts; appropriate strategies, tactics, and counter-tactics; cross-cultural negotiations; and negotiations in cyberspace.
- Develop and refine personal negotiation styles, as well as to understand and appreciate a variety of diverse negotiation styles. Course concepts will be applied to class exercises and assigned simulations centered around such issues as competitive pricing, advertising, and diversification; competitive bidding; efficient contracts; bargaining tactics in mergers and acquisitions; complex labor – management negotiations; problems in using mediators, arbitrators, and agents; group decision-making; as well as more abstract issues dealing with fairness, ethics, and justice.