Here's the always insightful Jonathan Willis with a great piece on negotiations, the idea of fairness and how it relates to the lockout:
The perception of fairness is a powerful force. Fans may recall that during the last lockout, it was the players that offered a massive rollback – likely in no small part due to the fact that they recognized the NHL was in significant financial trouble. That trouble is far less noticeable now, as the league rakes in record profits, and thus players aren’t willing to accept even a far smaller rollback in these negotiations.
For the players, it just doesn’t seem fair. And that’s why the battle continues, despite the fact that any rational assessment of the NHLPA position suggests that immediate capitulation is the union’s best financial option.
Read the whole thing. It includes an interesting psychological experiment on fairness that will help us all understand what's happening here. In short, this probably won't end anytime soon.