What is game theory in ADR?

What is game theory in ADR?

Game theory is the formal study of conflict and cooperation. Game theory concepts apply whenever the actions of several agents are interdependent. Game theory provides a new language to think of human behavior and of parties who are in conflict.

What are negotiation games?

Highly effective and engaging, negotiation games are used to expose participants to a range of negotiation and dispute resolution tools, techniques, and strategies. Through these negotiation games, students will learn skills such as: Examine different ways to communicate BATNA to a negotiation counterpart.

How do you negotiate with ADR?

The best amicable method in ADR are Arbitration, Conciliation, Mediation and Negotiation. But in India, Negotiation doesn’t have any statutory recognition i.e through way of legislation. Negotiation is self counseling between the parties to resolve their dispute.

How do you play the 2 dollar game?

Here is how it works. Every pair has a General Instruction, to divide $2 between the two players in the pair. They are instructed that the game is pure win-lose—no side deals or subterfuges are allowed. Although the players do not know this at the beginning, they will play the game three times.

What are the 3 components of a negotiation game plan?

There are three main components to a negotiation: The negotiating process; Negotiating behaviors; and. Playing the game.

Why negotiation is a game?

Games– artfully designed and well played, allow people to negotiate the painful truths and harsh realities that interrupt their lives. By probing and circling each other in ways that might seem nonsensical to observers, those skeptical of the process of the others involved can gauge the risks of engagement.

When Should negotiation be used ADR?

Negotiation is the most informal and flexible ADR process. It involves parties attempting to reach agreement on matters in dispute directly or through solicitors. Negotiation is a typical form of ADR used by private individuals involved in a legal dispute.

What is integrative negotiation?

In integrative negotiation, more than one issue is available to be negotiated. Whenever multiple issues are present—such as salary, benefits, and start date, in the case of a job negotiation—negotiators have the potential to make tradeoffs across issues and create value.

What best describes Batna?

BATNA is an acronym that stands for Best Alternative To a Negotiated Agreement. It is defined as the most advantageous alternative that a negotiating party can take if negotiations fail and an agreement. In other words, a party’s BATNA is what a party’s alternative is if negotiations are unsuccessful.

What are the methods of Alternative Dispute Resolution?

Arbitration: Arbitration utilizes the help of a neutral third party,and is similar to an informal trial.

  • Mediation: At first glance,mediation and arbitration are incredibly similar.
  • Med-Arb: This form of ADR in one in which the arbiter starts as a mediator,but,should the mediation fail,the arbiter will impose a binding decision.
  • What is the difference between mediation and negotiation?

    • In mediation, a third party who is neutral and impartial, is employed to resolve the dispute and his verdict is binding upon both parties to clear the impasse. • In negotiation, parties meet each other while, in mediation, mediator meets parties individually or jointly to settle the dispute

    What are the advantages of Alternative Dispute Resolution?

    Costs significantly less than going to court. Court battles,even those which last a short period of time,are exceedingly expensive.

  • Reduces stress.
  • Tell your story.
  • Takes into account the needs of both parties.
  • More likely to preserve existing relationships.
  • Confidentiality.
  • Saves time.
  • What is an alternative dispute resolution agreement?

    Mediation. Mediation involves an independent trained mediator who facilitates communication between the two parties having the dispute,with the aim of achieving a settlement or resolution.

  • Conciliation. Conciliation is generally used for employment situations rather than commercial disputes.
  • Arbitration.
  • Adjudication.