– Students should be familiar with basic concepts and approaches of negotiation (e.g. positional bargaining, interest-based negotiation)
– Basic numeracy skills are required
– Familiarity with role-play exercises is an advantage
At the end of the course, the student should be able to:
(1) Breakdown complex organizational problems using the appropriate methodology
(2) Construct expert knowledge from cutting-edge information
(2) Make effectual organizational decisions
(3) Effectively apply in-depth specialized knowledge to take advantage of contemporary opportunities in their professional field
(4) Use basic techniques of decision theory to make smarter decisions
(5) Use the theory of simultaneous and sequential games to analyse the strategic inter-dependencies of parties in a negotiation
(6) Understand the scope and limits of rational approaches to decision-making
Negotiators have to make many decisions before, during, and after a negotiation process. Often those decisions need to be made under time pressure and with limited access to information. The situation is further complicated in that the outcome of a negotiation depends not only on one party’s decisions, but on those of all parties involved. This course introduces students to the basics of decision and game theory with a view to make them smarter decision-makers and develop their awareness for the strategic inter-dependencies between negotiators. It concludes with a critical discussion of the limits of rational decision-making and the cognitive biases that often govern negotiators’ decision-making in practice. The course incorporates decision-making exercises, role-playing games, and in-class discussions to facilitate students’ learning.
