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Mind and Heart of the Negotiator, Second Edition, The by Leigh L. Thompson

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Principal-Agent Relationship

An agent acts on the behalf of a principal party. An agent has a stake in the outcome (e.g., a real estate agent earns a commission on the sale of a house). In Figure 9-1, the Hollywood agent is an intermediary between Film Gate and ABC, and also between Tri-Color and ABC.

Figure 9-1. Film Gate Negotiation Structure

There are many advantages to using agents to represent one's interests. Agents provide substantive knowledge (e.g., a tax attorney), expertise in the negotiation process (e.g., a real estate agent), or special influence (e.g., a Washington lobbyist; Rubin and Sander 1988). Moreover, they provide emotional ...

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