In this paper we analyze the interference channel as a conflict situation. This viewpoint implies that certain points in the rate region are unreasonable to one of the players. Therefore these points cannot be considered achievable based on game theoretic considerations. We then propose to use Nash bargaining solution as a tool that provides preferred points on the boundary of the game theoretic rate region. We provide analysis for the 2x2 intereference channel using the FDM achievable rate region. We also outline how to generalize our results to other achievable rate regions for the interference channel as well as the multiple access channel. Keywords: Spectrum optimization, distributed coordination, game theory, interference channel, multiple access channel.