Walton and McKersie's Behavioral Theory of Labor Negotiation sought to provide a descriptive theory of the process by which union and management negotiators reached settlements. Their paper drew on existing psychology, behavioral decision theory, and game theory. The basic psychological model of...

High levels of general trust are critical to economic growth and the integration of firms into new markets, but what factors influence the willingness to trust strangers? I examine the circumstances under which individuals across different societies are willing to trust in anonymous counterparts...

This research investigates the role of financial literacy on initiating and achieving a favorable negotiation outcome in an employment context. With a goal of improving long-term financial well-being, extant research examines whether increasing a person's understanding of basic financial...

Experimental studies consistently indicate that human information processing and decision making violate basic precepts of rationality. Yet rational choice theory is increasingly used to model organizations, politics, and international relations. Experimental evidence of cognitive bias is often...

The Paris Peace Conference was arguably the most complex negotiation ever undertaken. The principal product of the conference, the Treaty of Versailles, failed to accomplish any of the major goals of its framers. Relations between Allies and with the defeated enemies seriously deteriorated as a...