Which of the following is true for the economic models of negotiation?
A) The maximization of wealth and profit is the sole consideration of these models.
B) Personal relationships between the parties are not a factor in decisions.
C) They focus on maximizing utility, which includes considerations such as security or peace of mind.
D) These models consider values or properties that are tangible and measurable.

Question

Quizplus · Accepted Answer

Economic models of negotiation do not solely focus on the maximization of wealth or profit, but also on maximizing the utility, which includes non-tangible considerations such as security or peace of mind. Personal relationships between the parties may also be a factor in decision-making. However, these models do still typically consider values or properties that are tangible and measurable.

Which of the Following Is True for the Economic Models