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Negotiation - Fixed Pie Bias

By:   •  September 22, 2016  •  Course Note  •  539 Words (3 Pages)  •  1,805 Views

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Fixed Pie Bias

- Reactive Devaluation - Tendency of negotiators to denigrate and devale another part's concessuon simply because they are being offered by an adversary.

Vividness Bias

- Create Scoring System

- Seperate Information from Influence

Non Rational Escalation of Committment

- Start your negotiation with a preplanned strategy - to cut losses decide in advance

- Assign and reward devil's advocate - who criticises your decisions and find faults in your logic

Person should be trustworthy,not have invested in or helped design initial strategy,no conflict of interest regarding final outcome

- Anticipate and prepare for escalation forces likely to encounter

learn to identify competitive traps, understand cause and consequence of escalation and prepare in advance to de-escalate / cut your losses.

Susceptibility to Framing

- Risk Averse when thinking about potential gains - want sure thing when something to gain

- Risk seeking when thinking about potential losses - all or nothing when something to lose

- Framing effects - treat risks involving perceived gains differently from tisks involving perceived losses

Consider Various Reference Points to help evaluate situation

Evaluate if strategy still make sense if use difference reference point

Anytime risky strategy - think if strategy make sense on changing frame

Strategies of Influence - Chapter 7

Strategy 1 - Highlight potential losses than potential gains

Loss Aversion - likely to avoid losses than accrue gains.

- State proposal as what potential gains if forgo/reject proposal

Influence greatly increases on a loss frame

Overreliance can sour relationships

-Disaggregate their Gains - Aggregate their Losses

Do not make all concessions at one.

Good news - parcel the information in smaller gems

Benefits and Rewards - Seperate into installments you can make over time

- Requesting or Demanding concession - make one comprehensive

- Bad news - share it all once

- Costs or burden to impose - combine into one

Strategy 3- Employ the door in the face technique

first no then yes - extreme demand to reduce - viewed as concession

contrast effect -tendency to judge the size of something based on context in which it is situated

Strategy

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