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Bargaining: Bargaining or haggling is a type of negotiation in which the buyer and seller of a good or service debate the price and exact nature of a transaction. If the bargaining produces agreement on terms, the transaction takes place.
Bargaining power: Bargaining power is the relative power of parties in a situation to exert influence over each other. If both parties are on an equal footing in a debate, then they will have equal bargaining power, such as in a perfectly competitive market, or between an evenly matched monopoly and monopsony.
Bargaining problem: The two-person bargaining problem studies how two agents share a surplus that they can jointly generate. It is in essence a payoff selection problem.
Bargaining unit: A bargaining unit, in labor relations, is a group of employees with a clear and identifiable community of interests who are represented by a single labor union in collective bargaining and other dealings with management. Examples would be non-management professors, law enforcement professionals, blue-collar workers, clerical and administrative employees, etc.