Abstract:

Negotiation is a fundamental mechanism of economic coordination, yet it is studied primarily within management, psychology and bargaining theory. This article examines whether negotiation meets the criteria for recognition as a distinct object of economic inquiry and proposes a definition of the Economics of Negotiation. The study adopts a theoretical and conceptual approach, combining a critical literature review, comparative analysis of classical and contemporary definitions of economics and negotiation, and theoretical synthesis. The analysis identifies shared categories, including scarce resources, choice, resource allocation, opportunity and transaction costs, economic efficiency, and value creation and distribution. These findings provide a conceptual basis for proposing the Economics of Negotiation as a subdiscipline of economics concerned with managing scarce negotiation resources to create, distribute and realise economic value. The proposed framework encompasses the entire resource management cycle, from preparation and resource development to agreement implementation. The article addresses a conceptual gap by integrating fragmented economic perspectives on negotiation into a coherent definition and preliminary research framework. Further research is needed to operationalise negotiation resources and empirically test the proposed model.