IEMS 345 Study Guide - Final Guide: Modern Portfolio Theory, False Smiles, Tunnel Vision

• School: Northwestern University
• Department: Industrial Engineering & Management Sciences
• Course: IEMS 345
• Professor: Gail Berger

Document Summary

Entity theorists growth mindset **better performing fixed mindset. Compromising - i win some, you win some. Distributive negotiations: single issue, fixed sum games, same interests put into conflict, dividing the pie. Multiple issues - goals, fraction large issues into smaller ones, you can see the tradeoffs. Script - increases control, avoid conversation traps, reduce egocentrism. Improve your batna before you negotiate - it will lead to greater outcomes. Point at which you"re indifferent between negotiating and accepting your rp. Don"t reveal your rp - try to figure out the other party"s rp and batna. Target - the best possible outcome you could hope to achieve. When they are given permission to negotiate. Bargaining zone: range between buyer"s rp and seller"s rp. Anchors: people don"t make sufficient adjustments away from anchors, you should make the first offer because of this. If other side tries to anchor, re-anchor on your side (even threaten to walk away).