Seller's Buyer's reservation reservation price price | | | | V V --------------------------------------------------
``Trades would not take place unless it were advantageous to the parties concerned. Of course, it is better to strike as good a bargain as one's bargaining position permits. The worst outcome is when, by overreaching greed, no bargain is struck, and a trade that could have been advantageous to both parties does not come off at all.'' (B. Franklin)
Important idea: Pareto optimality