The objective here is to discuss negotiation advantages by knowing whether to make the first offer. I have learned that : the strategic view of bargaining focuses on how the outcome of bargaining games depends on who moves first and who can commit to a bargaining position, as well as whether the other player can make a counteroffer.

The non-strategic view of bargaining does not focus on the explicit rules of the game to understand the likely outcome of the bargaining. This view focuses on the gains from bargaining relative to alternatives. Anything I can do to increase your opponent's gains from reaching an agreement or to decrease your own will improve your bargaining position.

• I first had to read Chapters 16, 17, and 18 in Managerial Economics textbook by Froeb. I had to watch Life of Brian, a 2-minute video in which the vendor is disappointed when Brian does not haggle. https://www.youtube.com/watch?app=desktop&v=3n3LL338aGA

1. This example is imagine that someone has entered into a contract to purchase a new house, and the closing is scheduled for next week. It is typical for some last-minute bargaining to occur at the closing table, where sellers often try to tack on extra fees.
   • There are three options for the closing: (1) attend yourself, (2) send an attorney authorized to close only per the previously negotiated terms, or (3) pre-sign all the closing documents per the current terms and not attend the closing.
     • Which of these would you advise would be most advantageous from a bargaining position? Why? Explain your reasoning