Do you want to talk about Pareto Optimal?

Pareto Optimal is another concept from Game Theory, along with Pareto Superior.

Pareto Superior means that something is better in some ways while being equal or better in the other ways.

It's not worse off in any way.

This is an important concept when you're negotiating with somebody.

If you can make a solution, Pareto Superior to where it was before, you will always do that.

Pareto Optimal is when the solution is the best that it can possibly be,

then you can't change it without making it worse in at least one dimension.

There is a hard trade-off from this point forward.

These are important concepts to understand when you're involved in a big negotiation.

In negotiation, though, I would generally say that this is a tweet that I have.

Negotiations are one by whoever cares less.

Negotiation at the end of the day is about not wanting it too badly.

If you want something too badly, then the other person will be able to extract more

price from it.

If you do care more about something than the other person,

and they are taking advantage of you in a negotiation,

then your best way to deal with that is to turn it from a short-term game into a long-term game.

Try to make it into a repeat game.

Try to bring reputation into line.

Try to bring other people in who may have a say in the future or may want to play games with

this person in the future.

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