Perception and the Types of Risk in a Negotiation

The video tutorial explores the concept of risk in negotiations, emphasizing the difference between actual risk and perceived risk. It explains how perception can alter our understanding of risk and introduces the idea of risk propensity. The tutorial then delves into specific types of risks encountered in negotiations, including strategic risk, BATNA risk, and contractual risk, highlighting their implications and how they can affect negotiation outcomes.

Explain the concept of BATNA and its associated risks.

What is contractual risk and how can it affect negotiations?