Jared Curhan is a professor at M.I.T.’s Sloan School of Management who specializes in negotiation. His particular focus is on what researchers call “subjective value.” That’s a fancy term for how people feel about the outcome of a negotiation: do they think they got a fair deal or got screwed?

Negotiation theorists once dismissed subjective value as irrelevant. But Curhan and others have shown that it is a good predictor of economic payoffs—especially when parties will have to negotiate with one another more than once over the course of a relationship.

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