By Kathleen Kelley Reardon
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Additional resources for Becoming a Skilled Negotiator
This is often referred to as the endowment effect—the emotional attachment one has to a key item or idea. Occasionally, I ask my students how much they’re willing to pay for a ring I’m wearing. There’s always someone who flippantly offers me 50 cents, but most bids are in the hundreds of dollars. Then I tell them that because my husband gave me this ring on our tenth anniversary, I would never part with it at any price. This remark usually sends the bids soaring. When they reach around $25,000, the students say I appear to waver.
Freund’s composite approach broad ens the base from which negotiators can work effectively. Let’s say you’ve prepared only for a competitive negotiation. Coop eration by the other side may actually throw you off guard and cause you to be too easily satisﬁed. I can’t tell you how many of my students, early in practice negotiations, have given away the store because they’d prepared for resistance and instead met cooperation. Others, however, go in expecting cooperation and ﬁnd themselves facing what they view as irrational resistance.
Again, it’s important to know your own inclinations in conversation so that you do not fall into the rut of predictability. It is also useful to determine whether you and your counterpart are creating a dysfunctional pat tern. For example, if you both tend to use one-up statements, your interaction will be competitive. If you both tend to use one-down moves, little is likely to be accomplished. I recall standing in line to buy a pie behind an affectionate couple. ” ↓ She: “That’s OK. ” ↓ He: “Isn’t it your turn”?
Becoming a Skilled Negotiator by Kathleen Kelley Reardon