Improving Negotiations and Decision Making By ...

Improving Negotiations and Decision Making By Applying Game Theory

BIO 2019 ? Philadelphia

June 02 2019 - 08:45 am - 04:30 pm

Stefanie A. Schubert - Professor of Economics ? SRH University Heidelberg Harm-Jan Borgeld - Head Alliance Management ? Merck KGaA

This workshop Objective of the Workshop

covers...

By participating in this workshop, you will learn how to:

Methods:

? ? Improve your decision making by acquiring a systematic framework for decision Real-life pharma/biotech

making using Game Theory.

cases

? Achieve better negotiation results by applying advanced negotiation

techniques.

? Enhance your influencing skills by applying learnings from the Alliance

? Game theory ? In-class exercises

Management practice.

? Master new strategies to steer business interactions.

Participants will leave the workshop with a negotiation and decision making

toolkit specifically designed for Business Development Professionals.

2

Strategic Game Theory

Decision Making

Is the science of strategic decision making

Offers a useful framework for assessing the options and analyzing decisions

Unveils your partner's choices Enables you to influence the outcome

Look ahead and reason back to achieve the desired outcome

3

In-Class Exercise: First & Second Offer Strategy in Negotiations

In-class The reuxleesrocfistheesgame:

2 players and two piles of bricks The player who has to make the next move picks one of the piles and removes some bricks Number of bricks to be removed: one, all or any number in between Players move sequentially The player who gets the last stone wins

Lesson:

If there is a first mover advantage: go first (often advantageous)

If there is a second mover advantages: make you opponent go first (e.g. informational disadvantage)!

4

Multiple Equivalent Simultaneous

Negotiations

Offers (MESO)

Useful in collecting information from the partner

Be creative and provide multiple options that have the same value

This signals cooperation

Use MESOs if the counterparty .. is not willing to

share information does not reveal

priorities

5

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download