👉 Bargaining is a process where two or more parties engage in negotiations to reach an agreement on a mutually beneficial transaction. In this context, it refers to the act of making and accepting terms that are acceptable to both sides in order to resolve a dispute or conflict.
Bargaining typically involves several steps:
1.
Initiation
: This is the initial exchange of information or proposals by the parties involved.
2.
Negotiation
: This stage involves discussing and exploring each other's positions,