A concession is a compromise or yield made by one party in a negotiation to help reach an agreement. It reflects the flexibility of the negotiator and can be a strategic move to build goodwill, create reciprocity, and ultimately facilitate a resolution. Concessions play a crucial role in the dynamics of negotiation, especially when considering elements like alternatives, acceptable ranges for agreements, and the limits of what each party is willing to accept.
congrats on reading the definition of Concession. now let's actually learn it.