Parenting Tip: from time to time, allow your kids to argue – and don’t step in to resolve the conflict. Instead, teach them how to resolve the conflict themselves.
Today the kids wanted to watch a DVD. Problem was, they each had a different video in mind. They’ve just had an afternoon nap, have had their afternoon tea and are in good spirits – perfect opportunity for a teaching moment.
Me: “So, which DVD are you going to watch?”
Chloe (5 yr old): “Princess Stories”
Daniel (3 yr old): “Bob the Builder”
I decide to restrict their choices to force a conflict scenario:
Me: “Ok, you can watch one video right now - only one. Which one do you want?”
Chloe: “Mine!”
Daniel: “Mine!”
Me: “You cannot watch both. Both of you have to agree before you can watch anything.”
Chloe: “We can watch mine today, and Daniel can watch his tomorrow.”
Me: “Ok, Daniel, are you happy to wait for tomorrow?”
Daniel: “No!!! I want mine now!”
Chloe: “Daniel, you can watch yours tomorrow.”
Daniel: “No, you can watch yours tomorrow!”
Me: “Well, it looks like we’re not going to watch any video today. Unless one of you wants to compromise.”
Chloe & Daniel: “???”
Me: “Compromise means you give up what you want so someone else can have what they want.”
(repeat above exchange two or three times…)
In the end, Chloe finally decided to let Daniel watch his video today. She got a lot of praise for that 
… and some day down the track I’m sure we’ll have plenty of chances to teach Daniel the value of compromise too.
Funny tale Jeff, not sure if I like your definition of compromise though!