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Found Money
Gary Whitney and Cynthia Pavett
University of San Diego, USA
Volume 3: 2010, pp. 41-44; ABSTRACT
Found Money is a brief experiential exercise that teaches a number of basic principles of negotiation that are applicable across multiple disciplines. Topics include: distributive vs. integrative negotiations, opening demands (or bids), anchor points, equality vs. equity of a solution, BATNA, and reservation points. While the incident depicted in the negotiation is based upon fact, details have been changed to protect the parties involved. Found Money describes a situation in which a contractor, who was hired to conduct extensive remodeling, found a significant amount of money hidden in a wall that he was demolishing. After debating on whether to share this information with the owner of the house, he did what he thought was ethical and told the owner. Several discussions ensued and the negotiation focuses on the next meeting between the two parties. The exercise is designed such that both parties have common and confidential information.
