October 2012
Intermediate to advanced
256 pages
10h 39m
English
Content preview from Judgment in Managerial Decision Making, 8th EditionBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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CHAPTER ELEVEN
Negotiator Cognition
The decision-analytic approach to negotiation presented in the previous chapter suggests that it is desirable for parties to strike an agreement whenever a positive bargaining zone exists. Why, then, do negotiators frequently fail to settle? The decision-analytic approach also provides strategies for reaching agreements of great value to both sides. Why, then, do even negotiators who have access to this advice fail to reach Pareto-superior outcomes?
This chapter explores the most common cognitive mistakes that people make in negotiation. Specifically, we will look at six key issues that affect negotiator cognition: (1) the mythical fixed pie of negotiation, (2) the framing of negotiator judgment, (3) the nonrational escalation of conflict, (4) overestimating your own value, (5) self-serving biases, and (6) anchoring biases. Each section illustrates how the decision-making processes of the typical negotiator diverge from a prescriptive model of behavior and discusses how we as negotiators can correct these deviations.
An understanding of these common mistakes will help improve your negotiating skills in two key ways. First, awareness is an essential step toward avoiding these errors in important negotiations. Second, once you have learned to identify these errors in your own behaviors, you will be better able to anticipate them in the decisions of other negotiators.
THE MYTHICAL FIXED PIE OF NEGOTIATION
Why do negotiators so often fail to reach ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.