Delays in final deal implementation

  • Vitalijs A. Butenko
    Chair of Negotiation and Conflict Management
    ETH Zurich, Switzerland

Abstract

A negotiation ends when both parties agree on a deal. However, it is not always clear who and when makes the step towards the final agreement and who and implements the deal when. Making the final step first can be a costly action, as the one who makes it may be perceived as “weak" or even labeled as a “looser" (e.g. in mass media). In this paper we address the question of the individual decision towards the final resolution of a conflict situation. We develop our discussion based on the coordination game, and the war of attrition game (both with two players) to illustrate potential reasons behind strategic delays in individual decisions to resolve the conflict and implement the deal.

Keywords

negotiation, coordination game, war of attrition, role of time