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Published: Nov 10 , 2014
Author: Scotwork New Zealand

David and Goliath has always been the traditional underdog story. The little shepherd boy slays the mighty warrior. The story has inspired many negotiators throughout the years to "have a go" but could there be another explanation as to how David won? Should we really be feeling sorry for Goliath? What are the real lessons for negotiators here? Watch Malcolm Gladwell's TED talk and take note of the lessons below.

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‘The Prisoners’ Dilemma’ is a popular game theory example involving a two-person game of strategic interaction. One version is as follows. Two prisoners are accused of a crime. If one confesses and the other does not, the one who confesses will be released immediately and the other will spend 20 years in prison. If neither confesses, each will be held for only a few months. If both confess, they each spend 15 years in prison. This creates a paradox in decision analysis in which two individuals acting in their own self-interest do not produce the optimal outcome...

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