The Psychology of Negotiation: How to Find Elegant Trades

Overview

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This course explores the psychology, strategy, and practical application of negotiation through real-world stories, interactive negotiations with AI partners, and actionable frameworks. Rather than focusing solely on theory, the course emphasizes how people actually behave during negotiations, and how to consistently achieve better outcomes. Learners will develop a structured approach to negotiation by understanding key concepts such as BATNA, ZOPA, value creation, and “elegant trades” or “Trees.” Through engaging examples—from business deals to everyday decisions—participants will learn how to expand the pie, make smarter trade-offs, and navigate negotiations with confidence. All while taking a virtual tour of some of the most famous sites around Yale’s campus.

Syllabus

Elegant Trades

Build elegant trades that turn ordinary deals into true value-propositions—whether you’re closing a sale, landing a job offer, or negotiating with your toughest opponents: friends and family too.

Understand the Pie

Grow the pie instead of fighting over scraps. Design smart contingent contracts that turn uncertainty into bigger wins for both sides.

Thinking About Price (And Beyond)

When the pie can’t be expanded, claim your fair share. Sharpen your walk-away power so you protect your bottom line.

Figuring Them Out

Handle adversarial negotiators without getting pushed around. Then use Post-Settlement Settlements to quietly resurrect extra value after the deal is already inked.