This research proposes that negotiators consider each other's payoffs
in their evaluation of potential settlements beyond the level necessar
y to maintain the bargaining relationship. We further hypothesize that
the way in which negotiators weight their opponents' payoffs, relativ
e to their own, is a function of characteristics of the relationship a
nd of the bargainers' personalities. Specifically, we consider liking
of the other party, payoff expectations, satisfaction with past settle
ments, the likelihood of future negotiations, egocentricity, and power
orientation. We demonstrate the impact of these factors on the satisf
action negotiators derive from profiting more and less than their oppo
nents using data from an experiment in which subjects negotiate with c
omputer-simulated opponents.