Step 1: Understanding the Concept:
The question describes a method of dispute resolution. The key features mentioned are direct interaction between parties, bargaining, and crafting mutually beneficial outcomes without the intervention of a neutral third party to impose a decision. This process is a fundamental part of Alternative Dispute Resolution (ADR).
Step 2: Detailed Explanation:
Let's analyze the options:
(A) Expert determination: This is a process where an independent expert is appointed to decide on a specific technical issue. The decision is usually binding but is based on expert knowledge rather than negotiation between parties.
(B) Arbitration: This is a more formal process where a neutral third party (an arbitrator or a panel) hears the dispute and makes a binding decision (an award). It is an adjudicatory process, not a bargaining one.
(C) Conciliation: In this process, a neutral third party (a conciliator) assists the parties in reaching a mutually acceptable agreement. The conciliator facilitates the discussion but does not impose a solution. While it aims for a mutual outcome, it involves a neutral facilitator, which is not mentioned in the question's definition.
(D) Negotiation: This is a direct process between the disputing parties themselves, where they communicate, bargain, and try to reach a voluntary agreement that serves their mutual interests. There is no third-party facilitator or adjudicator. The description in the question perfectly matches the definition of negotiation.
Step 3: Final Answer:
The process described, which involves interested parties bargaining directly to craft outcomes for their mutual interests, is correctly identified as Negotiation.