Using Game Theory to Win Negotiations

Kevin Zollman, a professor at Carnegie Mellon and one of the leading game theorists in America, provides two key insights into winning a negotiation.

  • First, patience is king… “you have less to lose by letting the negotiation drag out then does the person you’re negotiating with
  • On the other hand, you want to be in the position to make a ‘take it or leave it’ offer