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NEGOTIATION/ PREPARATION. Aiming for a Negotiated Agreement: Aspiration (Target) Point Most preferred or ideal settlement Reservation Point (Bottom Line) Least favorable settlement. --Can settle or walk away to BATNA: B est Alternative T o a N egotiated A greement . PREPARATION.

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negotiation preparation
NEGOTIATION/PREPARATION

Aiming for a Negotiated Agreement:

  • Aspiration (Target) Point
    • Most preferred or ideal settlement
  • Reservation Point (Bottom Line)
    • Least favorable settlement. --Can settle or walk away to

BATNA: Best AlternativeTo a Negotiated Agreement

preparation
PREPARATION
  • BARGAINING ZONE ( Settlement zone)
    • Region between the parties reservation points

Positive bargaining zone (Reservation points overlap)

    • Settlement possible
  • Negative bargaining zone (Reservation points do not overlap)
    • Settlement not possible
perceptual distortion
PERCEPTUAL DISTORTION
  • A. Stereotyping
    • Assigning attributes based on membership in a particular group
  • B. Halo effects
    • Generalize on a number of attributes based on knowledge of one attribute.
  • C. Selective perception
    • Accepting information that supports prior belief and filtering out nonconforming information
perceptual distortion1
PERCEPTUAL DISTORTION
  • D. Projection
    • Ascribing to others the characteristics you have
    • Assuming that the other party will respond in the same manner you would respond.
  • E. Framing
    • Subjective evaluation mechanisms to determine whether to pursue or avoid future actions
relationships
Relationships
  • A. The norm of reciprocity
    • Duties owned to one another because of prior actions.
    • Reciprocity traps
  • B. The similarity principle
    • We assume others like us act like us
cognitive biases
COGNITIVE BIASES
  • A. Irrational Commitment
    • Irrational commitment to positions
  • B. Fixed-Pie Beliefs
    • Assumption that all negotiations are zero sum
  • C. Anchoring and Adjustment
    • Avoid false or inappropriate anchors
cognitive biases1
COGNITIVE BIASES
  • D. Information availability bias
    • Giving greater weight to easily available information and established search patterns.
  • E. Winners Curse
    • Settling too quickly
  • F. Overconfidence
    • Overestimate chance of success
    • Discount others advice and information
cognitive biases2
COGNITIVE BIASES
  • G. Law of Small Numbers
    • Tendency to draw conclusions from small sample sizes.
  • H. Self-serving biases
    • Fundamental attribution error /False -consensus
  • Ignoring Other’s Cognition's
    • Failure to consider other party’s perceptions.
cognitive biases3
COGNITIVE BIASES
  • Reactive Devaluation
    • Devaluing other party’s concessions
      • Reduces willingness to respond.
fairness
FAIRNESS
  • Principle 1
    • Multiple Methods of Fair Division
  • Principle 2
    • Fairness is Context Driven
  • Principle 3
    • Fairness is Often Based on Comparisons
fairness1
FAIRNESS
  • Principle 4
    • People seek equity
  • Principle 5
    • People will attempt to restore equity from inequity.
  • Principle 6
    • People need to maintain egos
fairness2
FAIRNESS
  • Principle 7
    • People care about process
  • Principle 8
    • Judgements are affected by relationship
  • Principle 9
    • Egocentrism taints judgement