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

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

A mediator is an impartial outsider who tries to aid the negotiators in their quest to find a compromise agreement.

A final word of advice: don't gloat about how well you have done.

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.

Final-offer arbitration should have great appeal for the daring (the risk seekers) who play against the timid (the risk avoiders).

The party that negotiates in haste is often at a disadvantage.