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Dealmaking: The New Strategy of Negotiauctions Kindle Edition
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Would recommend this book to beginners / practitioners alike.
The only caveat is that this is not to be considered light reading. You will need to follow the examples carefully, perhaps even with pen and paper. Follows a text-book / case study type approach peppered with theory.
BATNA (best alternative to a negotiated agreement, or What do you do if you don't reach a deal?) for NBC in the Frasier case probably meant a bidding war to replace 'Frasier.' Each participant needs to estimate that for all participants. They also need to determine their 'reservation value' - the lowest amount they would accept as seller or pay as buyer. When negotiating, suggests making a first offer as high/low as one can "tell a story around." Those on the receiving end of a first offer should strongly consider the 'mid-point rule' in shaping their counteroffer. A win-win move is to introduce 'contingent contracts' to align the incentives of both parties (eg. ratings-based increases/decreases) that also permit diagnosing the other sides' honesty.
"When to Auction" is a fairly mundane chapter.
"Negotiauctions" also covers creating illusions via sealed bids with comments such as "You're the low bidder" (when there's only one bidder), leaving pizza boxes from supposedly prior due diligence efforts, artificially limiting slots for due diligence, survivor rounds, etc.
Subramanian suggests sealed bids instead of open outcry, except in the presence of 'affiliated signals' (eg. the opportunity to learn a competitor is willing to bid high).
Stalking horse bids are used in bankruptcy proceedings by sellers to prevent lowball offers.
Explains reverse auctions, Dutch auctions, English, and Japanese auctions.
Again - must reading for anyone considering the sale of valuable assets.