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Bilateral Bargaining

A successful bargaining strategy results in a compromise between two parties that decide what each will give and receive. A decision is reached during the give-and-take of mutual adjustment when one party accepts the other’s offer. The agreement reflects each party’s perception of the best available outcome—in view of the power relationship—as each attempts to maximize gains and minimize concessions.

Bargaining is an appropriate decision strategy when both parties can benefit more together than either could alone. It is a mixed motive strategy. Participants must first cooperate to determine if an area of mutual benefit exists, and then compete to win the best deal within that area.


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