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In the course of editorial discussions, the concept of a concession means simply to be courteous by explicitly conceding the point, rather than simply leaving a lost argument and indicating a concession only through implication, or else allowing idle time to pass. A concession need not be a speech, and can be signalled with the simplest of notation, such as
Making a concession signals to others that adversarial debate has closed and parties can then move on toward constructive discussion.
Making explicit concessions also shows good faith. Oftentimes in the course of arguments we encounter valid counterarguments. Rather than be antagonistic or adversarial, concede what is valid to such counterarguments. This shows not only good faith, and civility, but that you are oriented toward achieving consensus, and in fact it makes your argument stronger if you can respond effectively to every such counterargument. Naturally there will be cases in which you find a counterargument to be superior to your own, and such counterarguments may in fact change your own thinking. Rather than simply walk away, give concession to your opponent(s) by stating clearly that they have won the argument through logic, reason, and clarity of concept.
Concessions help in a number of ways: