•     The Nash Equilibrium 

•     Negotiation protocols are marked by an important milestone, namely Nash Equilibrium

•     Before the Nash equilibrium was formulated, it was a general assumption that each

                  negotiating entity acting as per sole self-interest would ensure proper negotiation

•     The Nash equilibrium formulates that, when two or more negotiating entities co-operate

         they could ensure that their self-interests are served better than the earlier case, e. g.

         cartels such as Organization of the Petroleum Exporting Countries (OPEC) which sets

         the price of crude oil per barrel on the world market for its constituents