BARGAINING
Bargaining
Bargaining or haggling is a type of negotiation in which the buyer and seller of a good or service dispute the price which will be paid and the exact nature of the transaction that will take place, and eventually come to an agreement. Bargaining is an alternative pricing strategy to fixed prices. Optimally, if it costs the retailer nothing to engage and allow bargaining, he can divine the buyer's willingness to spend. It allows for capturing more consumer surplus as it allows price discrimination, a process whereby a seller can charge a higher price to one buyer who is more eager . Haggling has largely disappeared in parts of the world where the ...The above text is a snippet from Wikipedia: Bargaining
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bargaining
Verb
The above text is a snippet from Wiktionary: bargaining
and as such is available under the Creative Commons Attribution/Share-Alike License.