tag:blogger.com,1999:blog-5628654739765950201.post5120249015837454520..comments2023-12-14T23:41:52.413-08:00Comments on Negotiation Theory and Practice: How does your Reservation Value relate to your BATNA?Chad Ellishttp://www.blogger.com/profile/12098205622389657586noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-5628654739765950201.post-34092437386660536362017-03-02T01:40:52.813-08:002017-03-02T01:40:52.813-08:00HI, I have a question. Let's say Im selling my...HI, I have a question. Let's say Im selling my used car and I have only one offer from the car dealer where I want to purchase a new car. The offer is 1700 euros but I need 2300 Euros to put in an offer for the new car. My interest is to sell this car and get the new one. Does this mean my Reservation price is 1700 as this is a firm option or is it 2300 because thats what I need to purchase my new car? Through blue print I have valued my car to 2900 euros.<br />Thanks for your inputPepitahttps://www.blogger.com/profile/02774429868218945785noreply@blogger.comtag:blogger.com,1999:blog-5628654739765950201.post-25373428454010614832016-09-29T05:53:47.704-07:002016-09-29T05:53:47.704-07:00Appointment book software is an essential to anyon...Appointment book software is an essential to anyone who has ever found themselves struggling to keep up with their own hectic schedules. Sometimes it can be hard to remember everything that you have to do, but with this software, you don't have to. See more <a href="http://www.appointmentbookingsoftware.net/a-list-of-free-appointment-scheduling-software-for-any-business/" rel="nofollow">free appointment software</a><br />Farhana Akterhttps://www.blogger.com/profile/03565441814490646833noreply@blogger.comtag:blogger.com,1999:blog-5628654739765950201.post-91406153890131397882016-07-26T04:19:22.333-07:002016-07-26T04:19:22.333-07:00would you please post a concrete difference betwee...would you please post a concrete difference between BATNA and WATNA Justify the Worldhttps://www.blogger.com/profile/09743461486372973889noreply@blogger.comtag:blogger.com,1999:blog-5628654739765950201.post-10833567872451950062016-04-20T00:38:04.758-07:002016-04-20T00:38:04.758-07:00Efficiently composed data. It will be gainful to a... Efficiently composed data. It will be gainful to anyone who uses it, including me. Keep doing awesome. Without a doubt i will look at more posts. <a href="http://www.diminishedvalueappraisal.org" rel="nofollow">diminishedvalueappraisal.org</a><br />Jack sonhttps://www.blogger.com/profile/10096286309328822883noreply@blogger.comtag:blogger.com,1999:blog-5628654739765950201.post-6518026566473857902011-12-03T07:01:56.294-08:002011-12-03T07:01:56.294-08:00Great explanations! Just posted a link to this blo...Great explanations! Just posted a link to this blog post on our Facebook page: http://www.facebook.com/inkwhyInkwhyhttps://www.blogger.com/profile/17585124456623644259noreply@blogger.comtag:blogger.com,1999:blog-5628654739765950201.post-19997267059943046992011-09-24T13:32:12.145-07:002011-09-24T13:32:12.145-07:00Hi David,
Great comments. I really like thinking...Hi David,<br /><br />Great comments. I really like thinking about where your reservation value would be if your counterpart was going to find it out. Maximizing expected surplus is similar to the consideration of "pot odds", although in practice I think we're uncertain enough about the ZOPA that it's risky to commit to too aggressive a reservation price up front.Chad Ellishttps://www.blogger.com/profile/12098205622389657586noreply@blogger.comtag:blogger.com,1999:blog-5628654739765950201.post-67499226256013835572011-09-22T20:07:18.602-07:002011-09-22T20:07:18.602-07:00By the way, one place this comes up in real life i...By the way, one place this comes up in real life is in online Vickrey auctions (e.g., Adwords), where you have to specify your reservation price in advance. But it's a little bit different because your competitors do, also, and there's no real "negotiation". In that case, there's a theorem that suggests you should bid your BATNA. But even then, it's not necessarily true.David desJardinshttps://www.blogger.com/profile/15205200038718576331noreply@blogger.comtag:blogger.com,1999:blog-5628654739765950201.post-3692866885053223292011-09-22T16:47:24.673-07:002011-09-22T16:47:24.673-07:00A good thing to think about is, what would your re...A good thing to think about is, what would your reservation price be if you knew it would be known to your opponent? Obviously you don't want to choose a reservation price equal to your BATNA in that case, you guarantee they will hold out for that and your surplus from the negotiation will be zero. There is a considerable amount to be said for setting your reservation price at the surplus-maximizing value, i.e., maximize (probability of acceptance)*(gain over BATNA). A big advantage then is that you no longer need, and indeed may not even want, to keep your reservation price secret. It's a lot easier to negotiate effectively when you aren't trying to mislead your adversary but just seeking a win-win agreement.David desJardinshttps://www.blogger.com/profile/15205200038718576331noreply@blogger.com