MGRL-3105 Chapter Notes - Chapter 7: Verbal Behavior, Information Asymmetry, One Bad Apple
4 Feb 2020
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Relationships: maximizing monetary wealth need not come at the expense of building relationships. Subjective value inventory--assesses four major concerns held by negotiators. Two key problems with deterrence-based trust systems: expensive to develop and maintain, they can backfire. Trust is a consequence of or a response to uncertainty. Information asymmetry (opportunity to build trust and long-term relationships by not exploiting) Social networks: negotiators who do not know each other may attempt to build a more trusting relationship by trying to find a common node in their social networks. Shared problem or common enemy: unite/build trust. Forget the past and focus on the future (this goes a long way toward building trust: moving from a short-term to a long-term view. Similarity--people who are similar usually like each other. Similarity-attraction effect: mere exposure--the more we are exposed to something, the more we like it, mere exposure effect, physical proximity--more likely to form relationships with those closer, propinquity effect.
