Conventional wisdom says you should never leave money on the table when negotiating. But research in the field suggests this could be exactly the wrong approach.
There’s mounting evidence that a short-term win at the bargaining table can mean a loss in terms of overall trust and cooperation. That can leave everyone – including the winner – worse off.
Kate Vitasek, a professor of supply chain management and former executive, studies trading partner relationships, exploring what works in practice. Her research supports what economic theorists and social scientists have been arguing for years: The best results come when people collaborate to create long-term value instead of fighting for short-term wins. Read more about her work on collaborative approaches and game theory at The Conversation.
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MEDIA CONTACT:
Cindi King (865-974-0937, cking126@utk.edu)