What describes the range between your limit and the other party's limit in negotiation?

The term that best describes the range between your limit and the other party's limit in negotiation is known as the bargaining range. This concept refers to the span in which both parties can find mutually agreeable terms. The bargaining range is critical in negotiations because it identifies the zone where both parties' minimum acceptable outcomes overlap, allowing for compromise and agreement.

Understanding the bargaining range is essential in effectively negotiating, as it helps parties focus on their goals and limits while keeping an eye on the potential for collaboration. It implies a degree of flexibility, as each party may adjust their expectations to reach a satisfactory agreement within this range. In practice, negotiators often aim to explore this range fully to identify possible strategies that can lead to a successful outcome for all involved.

While the bargaining zone may sound similar, it more specifically refers to the area in which negotiation can occur, but the overall concept of the range itself is more accurately captured by the term bargaining range. Other terms like the negotiation spectrum or limit framework do not align with the conventional understanding of negotiation dynamics in the same way.