Reference no: EM132105439

Please rephrase the paragraphs below.

The political marketplace for health policies has characteristics in common with a traditional economic market. Many different products and services, including those used in the pursuit of health, are bought and sold in the context of economic markets.

Willing buyers and sellers enter into economic exchanges in which each party attains something of value. One party demands, and the other supplies.

By dealing with each other through market transactions, individuals and organizations buy needed resources and sell their outputs. (These relationships are summarized in Exhibit 2.1 in the book.)

Because people are calculative regarding the relative rewards and costs of market exchanges, they negotiate. Negotiation, or bargaining, involves two or more parties attempting to settle what each shall give and take (or perform and receive) in an economic transaction.

In the negotiations that take place in an economic market, the parties seek a mutually acceptable outcome in a situation where their preferences are usually negatively related (e.g., buyers prefer lower prices, while sellers prefer higher prices).

Indeed, if the preferences for outcomes are positively related, an agreement can be reached almost automatically. More typically, at least two types of issues must be resolved through the negotiations.

One type involves the division of resources-the so-called tangibles of the negotiation, such as who will receive how much money and what products or services.

Another type centers on the resolution of the psychological dynamics and the satisfaction of personal motivations of the negotiating parties.

These issues are the intangibles of the negotiation and can include such notions as appearing to win or lose, to compete effectively, and to cooperate fairly.

Negotiations in economic exchanges usually follow one of two strategic approaches: cooperative (win/win) or competitive (win/lose) strategies. The better negotiating strategy in a particular situation is a function of the interaction of several variables.

(The choice of the negotiating strategy best utilized in any particular situation is discussed in the book and is not repeated here.)