Negotiating RationallyIn Negotiating Rationally, Max Bazerman and Margaret Neale explain how to avoid the pitfalls of irrationality and gain the upper hand in negotiations. For example, managers tend to be overconfident, to recklessly escalate previous commitments, and fail to consider the tactics of the other party. Drawing on their research, the authors show how we are prisoners of our own assumptions. They identify strategies to avoid these pitfalls in negotiating by concentrating on opponents’ behavior and developing the ability to recognize individual limitations and biases. They explain how to think rationally about the choice of reaching an agreement versus reaching an impasse. A must read for business professionals. |
Contents
| 1 | |
| 7 | |
| 9 | |
The Mythical FixedPie | 16 |
Anchoring and Adjustment | 23 |
Framing Negotiations | 31 |
Availability of Information | 42 |
The Winners Curse | 49 |
A Case Example | 77 |
Rational Strategies for Creating Integrative Agreements | 89 |
Are You an Expert? | 105 |
Fairness Emotion and Rationality in Negotiation | 116 |
Negotiating in Groups and Organizations | 126 |
Negotiating Through Third Parties | 140 |
The Winners Curse Revisited | 152 |
Negotiating Through Action | 160 |
Overconfidence and Negotiator Behavior | 56 |
PART TWO _ A Rational Framework for Negotiation | 65 |
Thinking Rationally about Negotiation | 67 |
Negotiating Rationally in an Irrational | 171 |
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Common terms and phrases
accept active marketing agent airlines allocation anchoring and adjustment arbitration Assess auction bargaining zone BATNA Behavior and Human beneficial benefit better biases bidders buyer Cahill CHAPTER coalition Company competitive confidence conflict consider create dispute distributive dollar auction effect endowment effect escalation escalation of commitment evaluate expected expected value expertise fairness figure find finding firm first five frame goals impact influence integrative agreements interests irrational irrational escalation issues joint venture Journal Kahneman keep the mug Lehman Brothers Leigh Thompson M. A. Neale M. H. Bazerman majority rule managers MANNx-OTC market betaMANNx marketing of betaMANNx mediator mythical fixed-pie negotiating rationally Northcraft opponent opponent’s Organizational Behavior outcomes overconfidence party’s percent Player positive preferences Prescription problem profit profitability rational negotiation reach an agreement reservation price sell seller side side’s significant significantly situations Social Psychology strategy third party Thompson stops active tion trade-offs what’s winner’s curse worth