Tag Archives: Concepts

Negotiation concepts – Marginal

Economists use the word marginal all the time. The most common is: marginal cost means the change in total cost that arises when the quantity produced of a good increases by one unit. Or more precisely, the first derivative of the cost function. Marginal can be used in front of a range of financial terms, for example revenue or profit. Importantly it can also be Read More →

Negotiation concepts – Goods and utility

In any detailed discussion of negotiation its inevitable that I’m going to need to use a few concepts borrowed from economics. I’ll try to keep them to a minimum but they are fundamental to what follows and provide a toolkit to analyse various situations and strategies. For simplicity, I will refer to the publisher or end-user of the photograph as the client. We will start Read More →