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Negotiation (Negotiation Traps (Agreement Bias - Settling for terms that…
Negotiation
Negotiation Traps
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Winner's curse - After you finish the negotiation, the slight bitter after taste that you might have gotten a better deal if you make a more aggressive offer
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Fixed-pie Perception - A common misbelief that the preferences of the negotiating parties are always completely opposite
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Negotiation Game Plan
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Resistance Point - The point where you would rather walk away than accept the conditions from the other party ( Reservation price)
Target Point - What exact specific results would you like to achieve through this negotiation ( Target price)
Bargaining Zone - The difference between two parties' resistance points, can be positive or negative
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Introduction
A Process in which two or more parties exchange goods for services and attempt to agree upon the exchange rate for them