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3 Cards in this Set
- Front
- Back
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Negotiation Traps
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1. Leaving money on the table (lose-lose negotiation)-- occurs when negotiators fails to recognize and capitalize on a win-win potential
2. Settling for too little (winner curse)-- occurs when negotiators make too large concessions, resulting in a too-small share of the bargaining pie 3. Walking away from the table—occurs when negotiators reject terms offered by the other party that are demonstrably better than any other option available to them. This can be related to pride. 4. Settling for terms that are worse than your best alternative(agreement bias)-- occurs when negotiators feel obligated to reach agreement even when the settlement terms are not as good as their other alternatives |
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Egocentrism
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tendency of people to view their experiences in a way that is flattering or fulfilling for them
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Confirmation bias
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tendency of people to see what they want to see when appraising their own performance. This bias leads individuals to selectively seek information that confirms what they believe is true. This bias may seem harmless can result in myopic views of reality and hinder learning
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