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Lecture 8

Lecture 8

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Department
Psychology
Course
PSYCH 338
Professor
Doug Brown
Semester
Summer

Description
Lecture 8 – Negotiation 1. Negotiation a. Negotiation exercise b. Negotiation video c. Negotiation lecture 2. Distributive negotiation a. Win/lose, fixed-pie approach b. Opposing interests (both seller and buyer has a range  settlement range) c. Usually single-issue 3. Integrative negotiation a. Win/win, expandable-pie approach b. Focus on interests, not positions i. i.e. “I want a promotion” 1. should let the other party know what you want c. compatible negotiation i. same interests/positions 4. negotiation tactics a. distributive tactics i. threats/promises – tied to power (I.e. Wal-Mart) ii. standing firm/making concessions – hope other party will reciprocate iii. persuasion b. integrative tactics – more co-operative i. exchange information ii. cutting costs iii. increase resources – expand pie/# of issues being discussed 5. The Choice to Negotiate a. In a study of CMU MBA graduates i. Students who negotiated were able to increase their starting salaries by 7.4% ii. % HR officials who say employment offers are negotiable, even in a tough economy iii. Males and females systematically differed in negotiating salary 6. Women don’t ask! a. In a study of CMU MBA grads i. 7% of women, but 57% of men asked for more money ii. Boggle study: 1. Pay you between 3 and 10 dollars – played 4 rounds of boggle 2. Researcher gave participants $3, is this okay? a. If someone negotiated, they would get $10 b. 9x men negotiated compared to women – but performance was equal between men and women c. Stayn, babcock, gelfand, small i. 2 weeks versus 1 month (men vs women in negotiating something) 1. Women negotiate less frequently 7. The cost of Not negotiating a. Christina – 25,000 and Christopher – 30,000 i. At end of careers (38 years = 15,000 dollars more on negotiation) 1. Compounded annually = $361,171 2. 3% interest = $568,834 b. Christina 100,000 and Chris – 7.6% increase above 100,000 i. Christina has to work 9 more years if both receives 5% annual raises to make same amount ii. If chris’s annual raise is .5% higher: 19 years longer iii. If chris’s annual raise is 1% higher: 47 years longer 8. Why? a. Dissatisfaction – are women satisfied with less? i. Yes, replicated over and over in studies ii. Women are more satisfied as higher paid men iii. Paradox of the contented female worker 1. Martin (1989) – women 3% and 32% lowe
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