A negotiation is effectively a “game” between two or more parties, in which the outcome depends on all parties’ behaviour and negotiating strategies.
This three-day course on negotiations will share the principles of the art and science of negotiations that have been developed by game theorists and economists over the past 60 years since the founding of the subject in the 1950s by the Nobel Laureates John Nash and Thomas Schelling. (John Nash's life was the subject of the Oscar winning film The Beautiful Mind.) Gaining an understanding of these principles will maximise your chances of securing the most favourable deal possible for you or your organisation.
The game-theoretic approach emphasizes the strategic aspect of negotiations, including the relative impacts of various bargaining tactics such as pre-commitment and brinkmanship. This course will also cover some of the most significant, non-strategic aspects of negotiations, including the roles played by emotions and culture. We will show how the knowledge and research from game theory can be applied to real-world scenarios and case studies. The ultimate objective of the course will be to equip you with a set of effective strategic negotiation tools and skills. These will help you to become smart and successful negotiators and to secure better outcomes for you and your organisation.
Besides the sharing of knowledge and latest research, there will be plenty of opportunities to practice and reflect on your skills through practice exercises and one-to-one feedback. No prior knowledge of game theory or economics is required and everything will be taught in plain English. Where technical concepts and tools are introduced, this will be done cognisant of the fact that it is a non-specialist audience and will be delivered by people who have experience of doing exactly this.
The benefits - on leaving this course you will:
- be a more effective negotiator who is able to secure favourable deals for you and your organisation
- have gained an understanding of the game-theoretic aspects of negotiations, as initiated by the work of Nobel laureates John Nash and Thomas Schelling.
- understand - and be able to deploy - a range of negotiating tools, concepts and strategies with immediate effect in your workplace
- have developed your personal skills through engaging in several negotiation case studies and by receiving feedback from course peers and tutors
- be more conscious of your own strengths and weakness as a negotiator