BU288 Lecture 8: Negotiation Video Note
Document Summary
Distributive one party wins and one party looses. Unrealistic undervalue assets & overconfident in skills. Escalation of commitment escalate commitment until we make a deal (it can be worse than no deal at all)(since you"ve put so much in you take whatever you can get) Two key ways to help resist escalation of commitment: Banta - best alternative to a negotiation agreement. Over-competitiveness can make use act irrationally your loss and our gain and. Mythical fixed pie where you can fix it in your favor or it is fixed in the other vice versa parties favor. Quick deal make a quick deal where one party is not as informed as the other (not good for long term deals) Let other party make first offer you may get surprised at offer (better for you)(should be ambitious but also reasonable) Anchors negotiators ass or subtract from in order to come to a value.
