Instructor
Program
Open Courses
Term
Fall A (Aug-Oct)
Timing
Wednesdays at 8:40 am - 10:10 am
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 negotia- tion 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.