Dynamics of Rational Negotiation

This book uses game theory to analyze the strategies developed in negotiation processes. Offering a detailed analysis of competition and cooperation, it explores various bargaining strategies that result from the application of Nash equilibrium and mixed strategies. Employing a blend of game theory and real-world examples, the authors describe typical negotiation scenarios and unveil the art of negotiation strategy – dissecting both competitive and cooperative tactics. This comprehensive analysis explores the multifaceted dimensions of negotiation, highlighting not only formal aspects but also the economic, social, political, and human factors at play. The authors discuss the basic structures of cooperative and non-cooperative games and conduct a comprehensive analysis of the language games that take place in negotiations. They examine how negotiators belonging to different forms of life can trade with each other when their respective language games are different and prone to misinterpretation. The book also probes arbitration and mediation as conflict-resolution tools within this intricate landscape. Designed for the curious minds seeking insight into negotiation strategies, as well as students and scholars of diverse fields, this book fosters an understanding of negotiation's labyrinthine pathways. "Dynamics of Rational Negotiation" unlocks the door to negotiation's complexities, inviting readers to unravel the layers of human interaction.