This article provides a general negotiation background, establishing some basic definitions such as BATNA, interests, and “Shadow of Law.” Then, it works with the two-step process of utility maximization and rational choice to achieve the optimal settlement output within mediation and legal negotiation processes. Lastly, it points out methods to support the theories in ways that a lawyer could understand and apply correctly. Thus, the article offers an idea for an optimal settlement in a legal negotiation/mediation. It takes the complementary views of recognized authors, from Fisher and Ury’s "how to negotiate" manual, Raiffa's lucid explanation of applied game theory, to utility function—from Bentham to modern authors—, in order to optimize the settlement output in a legal negotiation/mediation.
Utility Function and Rational Choice as Support Mechanisms to Maximize Mediation and Legal Negotiation Settlement Output,
17 Pepp. Disp. Resol. L.J.
Available at: http://digitalcommons.pepperdine.edu/drlj/vol17/iss2/4