Currencies Of Exchange: Social Utility Functions And Strategic Decisions In Negotiation

Grant number: DP1093256 | Funding period: 2010 - 2013

Completed

Abstract

Negotiators' strategy choices are influenced by their concern about economic and social outcomes. As negotiation relationships develop, social outcomes such as reputation become increasingly influential. However, individuals differ in their willingness to trade reputation for financial gain. We investigate two factors, negotiation context and underlying relationship, that affect the relative weights assigned to economic and social outcomes. We link differences in these weights to differences in negotiators' strategy choices and study how weights and behaviours change over time. This enables us to identify the elements of negotiation best practice, which allows negotiators to protect both the..

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