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We propose that following a victimization episode, victims experience an enhanced need for power, whereas perpetrators experience an enhanced need for social acceptance. We present the needs-based model of reconciliation, according to which the reciprocal satisfaction of these needs may lead to improved relations between victims and perpetrators. We then use the model as an organizing framework for reviewing theories and empirical findings within the field of victim/perpetrator dynamics in general and reconciliation in particular. We also examine its applicability to various contexts including interpersonal and intergroup conflicts and conflicts between majority and minority groups within the same society. Finally, we conclude by discussing policy implications drawn from the model.