Law & Economics

Consider a real life bargaining and negotiation situation that involves two parties and the multiple issues to be negotiated that has already occurred, currently in progress, or will occur in the near future in your personal life or at work. Be sure to address the following:

1.Describe the situation and negotiation environment.
2.Identify the parties (e.g., yourself, the persons on your side, and/or the opposing parties) including the bargaining positions.
3.Present the type of third party intervention and procedures if required, (e.g., arbitration or mediation).
4.Explain how the Best Alternative to a Negotiated Agreement (BATNA) is derived.
5.Evaluate the theoretical models, methods, sources of power, and analytical procedures required to be utilized in the negotiation process.
6.Examine the mechanics of the procedures in terms of framing, packaging, use of questions, and types of proposals.
7.Assess the strategies utilized and the results achieved and/or anticipated in the settlement.