MGMT 412 - #4
🇬🇧
In English
In English
Practice Known Questions
Stay up to date with your due questions
Complete 5 questions to enable practice
Exams
Exam: Test your skills
Test your skills in exam mode
Learn New Questions
Popular in this course
Learn with flashcards
Manual Mode [BETA]
Select your own question and answer types
Other available modes
Complete the sentence
Listening & SpellingSpelling: Type what you hear
multiple choiceMultiple choice mode
SpeakingAnswer with voice
Speaking & ListeningPractice pronunciation
TypingTyping only mode
MGMT 412 - #4 - Leaderboard
MGMT 412 - #4 - Details
Levels:
Questions:
15 questions
| 🇬🇧 | 🇬🇧 |
| How does the Nash Bargaining Solution prioritize the concept of fairness in negotiations? | It emphasizes maximizing joint surplus while ensuring no party can be better off without making the other worse off (Pareto Efficiency). |
| If only relative bargaining power matters, how might this influence the behavior of negotiators with perceived weaker positions? | Weaker negotiators might focus on altering perceptions of their strength or leverage external factors to shift power dynamics. |
| What negotiation strategies could be used when both inside and outside options are zero, as in the pizza example? | Parties might use trust-building, clear communication, or focus on long-term relationship benefits to reach an agreement. |
| Why should offers that violate the Pareto principle never be accepted, and how can negotiators identify such offers? | Accepting such offers means leaving value on the table. Negotiators can identify them by assessing whether improvements for one party harm the other |
| How does the Nash framework highlight the importance of information in achieving the best negotiation outcomes? | The model assumes perfect knowledge of preferences, suggesting that better information leads to optimal, fair solutions. |
| What psychological mechanisms make the Good Cop/Bad Cop tactic effective, and how can a negotiator neutralize it? | It plays on emotional manipulation and contrasting behavior. Neutralization involves recognizing the tactic and maintaining consistent responses. |
| What are the potential risks and benefits of responding to intimidation with similar aggressive tactics? | Benefits include asserting strength, while risks involve escalating conflict and damaging long-term relationships. |
| How can a negotiator effectively handle an exploding offer without compromising their position? | By questioning the urgency, seeking more time, or presenting alternative deadlines to regain control. |
| In what ways can understanding the other party’s needs contribute to maximizing joint surplus in negotiations? | : It allows for crafting solutions that align with both parties' interests, creating win-win outcomes. |
| What does the "leftover pizza" analogy teach about efficiency in negotiation outcomes? | It stresses the importance of fully utilizing available resources to avoid wasted potential in agreements. |
| Given that Nash bargaining assumes extreme rationality, how might real-world negotiations differ, and how can negotiators adapt? | Real-world decisions often involve emotions and irrational behaviors; negotiators can adapt by incorporating emotional intelligence and flexibility. |
| When might splitting the difference be a suboptimal strategy in negotiations | When it overlooks the underlying interests and values of the parties, potentially leading to unfair or inefficient outcomes. |
| How can building a relationship with the opposing party (co-opting) shift negotiation dynamics in your favor? | It fosters trust, opens communication, and may lead to more collaborative and favorable outcomes. |
| How does the rate of time preference affect bargaining power in negotiations? | A party more willing to wait may have greater leverage, while impatience can weaken bargaining positions. |
| How does the Nash Bargaining Solution's silence on communication challenge real-world application, and what can negotiators do to bridge this gap? | A: It ignores negotiation dynamics like persuasion and trust-building. Negotiators can use active listening and transparent communication to address this. |