Self-AssessmentWhat Do I Want?
What Is My Alternative to Reaching Agreement in This Situation?BATNAs and RealityYour BATNA is Time SensitiveDo Not Let the Other Party Manipulate Your BATNA
Determine Your Reservation PointBe Aware of Focal PointsBeware of Sunk Costs
Do Not Confuse Your Target Point with Your Reservation PointIdentify the Issues in the NegotiationIdentify the Alternatives for Each IssueIdentify Equivalent Multi-Issue Proposals
Assess Your Risk PropensityStrategic RiskBATNA RISKContractual RiskEndowment Effects
Am I Going to Regret This?Violations of the Sure Thing PrincipleDo I Have an Appropriate Level of Confidence?Other AssessmentWho Are the Other Parties?Are the Parties Monolithic?47
Counterparties’ Interests and Position
Counterparties’ BATNAsSituation AssessmentIs the Negotiation One Shot, Long Term, or Repetitive?49
Do the Negotiations Involve Scarce Resources, Ideologies, or Both?Is the Negotiation One of Necessity or Opportunity?
Is the Negotiation a Transaction or Dispute?Are Linkage Effects Present?60
Is Agreement Required?62
Is it Legal to Negotiate?Is Ratification Required?66
Are Time Constraints or Other Time-Related Costs Involved?67
Time Pressure and DeadlinesTime-Related CostsTime HorizonAre Contracts Official or Unofficial?Where Do the Negotiations Take Place?Are Negotiations Public or Private?84
Is Third-Party Intervention a Possibility?87
What Conventions Guide the Process of Negotiation (Such as Who Makes the First Offer)?Do Negotiations Involve More Than One Offer?Do Negotiators Communicate Explicitly or Tacitly?Is There a Power Differential Between Parties?Is Precedent Important?Conclusion