In a two-party negotiation, the minimum reservation point refers to the smallest outcome that one party is willing to accept and the maximum reservation point refers to the largest outcome that the other party is prepared to eventually offer.

Minimum Reservation Point

is the lowest or least favorable outcome one is willing to accept in a negotiation or deal.

Maximum Reservation Point

The highest price a consumer is willing to pay for a good or service, beyond which they will choose not to purchase it.