The Art of Bargaining Hardcover - 1996

In The Art of Bargaining, Richard Ned Lebow draws on his years of experience with the United States government, NATO, and numerous European and American businesses to explain the principles of negotiation - from buying a car to planning business mergers to signing an international treaty. Unlike studies that examine only what is said and done at the negotiation table, The Art of Bargaining looks at the context in which negotiation takes place - and shows why some of the most critical decisions about bargaining are made even before the parties sit down to talk. Lebow begins with a discussion of the nature of bargaining and why people choose to bargain. Because bargaining is a strategy, it is imperative to consider the end goal before deciding on the means for achieving it. Lebow explores the relationship between bargaining and its goals and compares the bargaining process with some other strategies - such as coercion or threats - that can achieve similar goals. An in-depth study of the decision to negotiate reveals that there are three distinct approaches to the process: coordination (mutual accommodation of both parties' interests); punishment (the use of threats to influence agreement); and reward (making agreements seem more attractive through incentives). Lebow explains how all three approaches can be used effectively once the context of the negotiation has been properly analyzed.