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BATNA stands for "Best Alternative to a Negotiated Agreement," which applies specifically to situations where you are in multi-party negotiations. The term does
by steelframe 8y ago
BATNA stands for "Best Alternative to a Negotiated Agreement," which applies specifically to situations where you are in multi-party negotiations. The term doesn't generalize to "alternative strategy." I think maybe the term you were looking for was "opportunity cost."
- ovi256 8y agoIt's helpful to see a thing like career choice like the market participation that it is, and see market participants, in a sort of game theory view, as participants in an ongoing implicit negotiation.