What is the difference between bargaining and negotiation?

Bargaining typically refers to the back-and-forth exchange of offers and counteroffers, often focused on price or specific terms, and can be more adversarial in nature. Negotiation, on the other hand, encompasses a broader process that includes not only the exchange of offers but also the exploration of interests, collaboration, and finding mutually beneficial solutions. While bargaining may be a component of negotiation, the latter often emphasizes relationship-building and long-term outcomes.