How to Use Game Theory to Win a Negotiation

“If you’re trying to win in a negotiation you want to try and find ways to make it so that you are more patient than the other person — that is you have less to lose from letting the negotiation drag out than does the person you’re negotiating with.”

One of the keys to getting what you want in a negotiation is patience, and it turns out game theory can help you figure out how to use it to your advantage.

This Big Think video features game theorist Kevin Zollman sharing two ways to use game theory to control a negotiation including to be the more patient negotiator and to get yourself in a place where you can make a take it or leave it offer.