A concept similar to the walkaway point, i.e., that point in a negotiation range that when reached the negotiator abandons the negotiation. In this case, reservation price relates to the actual price involved in the potential purchasing.
Published in Chapter:
Negotiating Across Cultures: Insights for the 21st Century
Pedro B. Agua (CINAV-Portuguese Naval Academy, Portugal), Armindo S. Frias (ISEG, Universidade de Lisboa, Portugal), and Anacleto Correia (CINAV-Portuguese Naval Academy, Portugal)
Copyright: © 2022
|Pages: 19
DOI: 10.4018/978-1-7998-9301-1.ch014
Abstract
The 21st century accentuated the globalization, regardless of some cases apparently returning to the previous regionalization paradigm. In both cases, human communication has been and will be key to overcome the major challenges ahead. Within the global context, communication is increasingly cross-cultural, which brings additional challenges related to misunderstandings and the potential to escalate conflicts, sometimes ending up at crises. Therefore, communication and negotiation across cultures has never been as relevant as now, and the purpose of this chapter is to provides a fundamental knowledge base to cross-cultural negotiation, taking into account the main culture models from the last 50 years. It will be based on several relevant culture models, taken from multiple lines of research from reference authors in the field of culture models, negotiation, leadership, and decision making.