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Biases - Coggle Diagram
Biases
memory
Hindsight Bias:
In negotiations, this can lead to overestimating the strength of one's bargaining position or a belief that the product was predetermined. This bias can affect the evaluation stage of negotiations, as parties may overestimate their contributions to the development.
This bias refers to the tendency to overestimate one's ability to predict the outcome of an event after it has occurred.
Availability Bias:
In negotiations, this can lead to an over-reliance on information that is easy to recall, such as recent events or vivid anecdotes, rather than considering a broader range of information. This bias can affect the information-gathering and decision-making stages of negotiations.
This bias refers to the tendency to rely on readily available information when making decisions rather than seeking more relevant or accurate information.
Confirmation Bias
In negotiations, this can lead to a narrow focus on information supporting one's position and disregarding information that contradicts it. This bias can affect any stage of the negotiation process, leading to an incomplete understanding of the situation and hindering creative problem-solving.
This bias refers to the tendency to search for, interpret, and remember information in a way that confirms one's pre-existing beliefs or attitudes.
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Levelling and Sharpening
In negotiations, this can lead to a preference for data that is frequently repeated, even if it is not valid or relevant. This bias can affect the information-gathering and decision-making stages of negotiations.
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Confirmation Heuristic
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In negotiations, this can lead to a preference for information confirming one's initial beliefs and disregarding information that contradicts them. This bias can affect the information-gathering and decision-making stages of negotiations.
speed
Optimism Bias:
In negotiations, this can lead to overestimating one's bargaining power or believing that a deal will be reached quickly and easily. This bias can affect the initial stages of negotiation, as parties may be overly optimistic about the outcome.
This bias refers to overestimating the likelihood of positive outcomes and underestimating the possibility of adverse effects.
Status Quo Bias:
In negotiations, this can lead to an overvaluation of one's assets or resources, making it difficult to reach a compromise.
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Endowment Effect:
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In negotiations, this can lead to an overvaluation of one's assets or resources, making it difficult to reach a compromise. This bias can affect the solution-building and evaluation stages of negotiation.
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Self-Serving Bias:
This bias refers to the tendency to attribute positive outcomes to internal factors (such as one's skills or abilities) and adverse effects to external factors (such as bad luck or the actions of others).
In negotiations, this can lead to an overestimation of one's contributions and a failure to acknowledge the contributions of others. This bias can affect the evaluation stage of negotiation.
Negativity Bias:
In negotiations, this can lead to overemphasising potential risks and downsides, making it difficult to reach a compromise. This bias can affect the information-gathering and decision-making stages of negotiation.
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info overload
Anchoring Bias:
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In negotiations, this can lead to an over-reliance on the initial offer or proposal and a failure to consider alternatives. This bias can affect the initial stages of negotiation, as parties may become fixated on the first offer.
Framing Effect:
In negotiations, this can lead to a preference for data presented in a favourable light and a disregard for the information presented in a negative light. This bias can affect the information-gathering and decision-making stages of negotiations.
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Empathy Gap:
This bias refers to the tendency to underestimate the influence of emotional factors on decision-making.
In negotiations, this can lead to a failure to understand the emotional needs and concerns of the other party, which can hinder effective communication and compromise. This bias can affect the rapport-building and solution-building stages of negotiations.
Commitment Bias
In negotiations, this can lead to a reluctance to change one's position, even in the face of new information or changing circumstances. This bias can affect any stage of the negotiation process, as parties may become entrenched in their positions.
his bias refers to the tendency to remain committed to a decision or course of action, even when it is no longer rational or beneficial.
ambuigity
Declinism
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If a party in a negotiation suffers from this bias, they may resist change or new ideas and may be more likely to cling to the status quo. This can affect the brainstorming and solution-building stage of negotiations.
Bandwagon Effect:
In negotiations, this can lead to groupthink, where parties are more concerned with conforming to the group rather than objectively evaluating the situation. This can affect the decision-making stage of negotiations.
This bias refers to the tendency to adopt a belief or behaviour because it is popular or widely accepted.
Halo Effect:
This bias refers to the tendency to allow one positive trait or characteristic of a person to influence our overall perception of that person.
This can impact negotiations if one party is overly impressed by the other party's accomplishments or reputation, leading to overestimating their abilities or underestimating their weaknesses. The Halo Effect can impact the initial stages of negotiation when parties are trying to establish rapport and build trust.
Gambler’s fallacy:
This bias refers to the belief that past events will influence future outcomes, even when there is no logical connection between them.
This can lead to unrealistic expectations or assumptions about how the negotiation will unfold. This bias can affect any stage of the negotiation process, as parties may make decisions based on incorrect assumptions about the future.