Negotiation is the art and science of creating agreements between two or more parties. This course has two purposes: first, to discuss and apply theories developed as guides to improving negotiating (the science) and, second, to develop and sharpen students’ negotiating skills through negotiations with other students in realistic cases (the art).
All sections of managerial negotiations, including this one, rely heavily on simulations, in which theory meets practice. But this particular section emphasizes more the game-theoretic foundation of negotiations. We will play “noncooperative,” “cooperative” and dynamic games. We will discuss them from both theoretical and behavioral perspectives.
The course content uses decision theory and game theory for much of its analytic underpinnings. These topics will be covered as needed in the debriefing of the negotiation exercises. (No prior knowledge of game theory is required, but a willingness to think abstractly is helpful.)