Pie-Slicing Strategies
The most frequently asked question about negotiation is, “How can I achieve the most of the bargaining surplus for myself?” The simple answer to this question is to determine the other party's reservation point and offer him or her the option that represents this reservation point. For example, if we are a potential home buyer and we discern that the seller's reservation point is $251,000, that is an ideal offer to make, assuming it well exceeds our reservation point. However, this is easier said than done. How would we get this information? Most negotiators will never reveal their reservation point, but it may emerge unintentionally. Raiffa (1982) cautions negotiators not to reveal their reservation points and cites a ...
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