Why leaving money on the table makes sense in the long run

Conventional wisdom says that you should never leave money on the table when negotiating. But research in my field suggests this could be exactly the wrong approach.

There’s mounting evidence that a short-term win at the bargaining table can mean a loss in terms of overall trust and cooperation. That can leave everyone – including the “winner” – worse off.

As a former executive, I’ve managed large contracts as both a buyer and a seller. Now, as a business professor, I study these trading partner relationships, exploring what works in practice. My work supports what economic theorists and social scientists have been arguing for years: The best results come when people collaborate to create long-term value instead of fighting for short-term wins.

What game are you playing?

Research into art, science and practice of collaborative approaches dates back