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Negotiation by Harvard Business School Press

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Glossary

AGENT A person charged with representing the interests of another in negotiations with a third party.

ANCHORING An attempt to establish an initial position around which negotiations will make adjustments.

BATNA Acronym for “best alternative to a negotiated agreement.” Knowing your BATNA means knowing the options of what you will do or what will happen if you do not reach agreement in the negotiation at hand.

BLUFFING A tactic in which one party in a negotiation indicates that it may be willing to do or accept something that it actually has no intention of following through on. For example, a tenant may bluff that he will not renew his lease unless certain improvements are made to his office space.

COMPLIANCE TRANSPARENCY The ability ...

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