In negotiation, some justifications are more persuasive than others, research suggests. And learning how to counter offer in the right way can make significant differences in outcomes.
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daniel kahneman
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What is Anchoring in Negotiation?
What exactly is anchoring in negotiation, and how does it play out at the bargaining table? Consider this anchoring bias example from Harvard Business School and Harvard Law School faculty member Guhan Subramanian. While running a negotiation simulation in one of his classes, Subramanian noticed that one student spent a considerable amount of time explaining … Read What is Anchoring in Negotiation?
4 Sales Negotiation Traps—and How to Overcome Them
Whether you’re planning to put your home up for sale, trying to unload excess merchandise, or searching for new clients, there’s a good chance you’ll make your next sales negotiation more challenging than it needs to be by falling into common cognitive traps. You can improve your sales negotiation skills by learning about four traps … Read More
Negotiation Advice: When to Make the First Offer in Negotiation
When or when not to make the first offer in negotiations is a question many expert negotiators ask themselves when approaching business negotiations, real estate transactions, or even interpersonal negotiations with friends and family. In this article drawn from negotiation research, we offer negotiating skills and negotiation tips for when, and when not, to make … Read More
Four Strategies for Making Concessions in Negotiation
Skilled negotiators know that making strategic concessions at the right time can be an effective tactic in a negotiation. In this article, Deepak Malhotra, a professor at Harvard Business School and PON-affiliated faculty member, suggests four ways to make your concessions work to your best advantage.
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Price Anchoring 101
Opening offers have a strong effect in price negotiations. The first offer typically serves as an anchor that strongly influences the discussion that follows. In research documenting price anchoring, psychologists Daniel Kahneman and Amos Tversky found that even random numbers can have a dramatic impact on people’s subsequent judgments and decisions.
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Persuasion Tactics in Negotiation: Playing Defense
Persuasion tactics can lead us to make decisions in negotiation that we later regret. Fortunately, there are strategies available that can help us avoid being taken for a ride.
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Daniel Kahneman Showed Negotiators a More Rational Path
The late psychologist Daniel Kahneman, with his research partner Amos Tversky, spurred a scientific revolution in economics by pinpointing predictable ways in which intuition impairs our judgment. The pair also made key contributions to our understanding of negotiation.
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Emotional Triggers: How Emotions Affect Your Negotiating Ability
Imagine you’re about to negotiate with a competing firm about a possible merger, but will need to combat emotional triggers. You enter the conference room and find a reasonable and fair representative from the other company, someone you’ve reached mutually beneficial agreements with in the past. But you’re in a terrible mood.
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Essential Negotiation Skills: Limiting Cognitive Bias in Negotiation
In past articles, we have highlighted a variety of psychological biases that affect negotiators, many of which spring from a reliance on intuition, and may hinder integrative negotiation. Of course, negotiators are not always affected by bias; we often think systematically and clearly at the bargaining table. Most negotiators believe they are capable of distinguishing … Read More
Sales Negotiation Techniques
In sales negotiations, making the first offer is often a smart move. The first offer can anchor the discussion that follows and can have a powerful effect on the final outcome.
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Influence Tactics in Negotiation
Whether we notice them or not, social norms—the rules of behavior deemed acceptable in society—strongly influence our behavior. We automatically lower our voices when we enter a library and raise them at football games. We arrive at work on time but show up to dinner parties half an hour late. We stop at red lights … Read Influence Tactics in Negotiation
Managing Difficult Negotiations: Lessons from the 2015-2017 Illinois Budget Impasse
On July 6, 2017, the state of Illinois finally resolved a 793-day budget impasse, the longest such impasse in U.S. history. The economically devastating stalemate between Republican then-governor Bruce Rauner and the Democratic-controlled state legislature, triggered by hardball negotiation tactics, offers lessons to negotiators managing difficult negotiations.
An Agenda and a Condition
As Illinois politicians approached negotiations … Read More
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- Cole Cannon Esq. Shares His Negotiation and Leadership Experience
- Gender and Negotiation: New Research Findings
- Ethics and Negotiation: 5 Principles of Negotiation to Boost Your Bargaining Skills in Business Situations
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