Game theory, however, deals only with the way in which ultrasmart, all knowing people should behave in competitive situations, and has little to say to Mr. X as he confronts the morass of his problem.

Most people, even in simple risky situations, don't behave the way the theory of utility would have them behave.

The art of compromise centers on the willingness to give up something in order to get something else in return. Successful artists get more than they give up.

The need is not for the creation of new analytical techniques specially designed for the negotiation process, but rather for the creative use of analytical thinking that exploits existing techniques.

Disputants often fare poorly when they each act greedily and deceptively.

The best practical advice then is: try to maximize your expected payoff, which is the sum of all payoffs multiplied by probabilities.

Game theory, however, deals only with the way in which ultrasmart, all knowing people should behave in competitive situations, and has little to say to Mr. X as he confronts the morass of his problem.