Ch 3: Key Additional Notes Flashcards
T or F: If you reveal your reservation point during the course of negotiation the other party has little or no incentive to offer you anymore- be prepared for them to offer you your RP
True
When formulating counteroffers and concessions, negotiators need to consider the concession ______, the concession ______, the ______ and ______ to predict their next move.
reciprocity, pattern, magnitude, timing
When your counterparty makes an outrageous offer, you must _________ but also allows for signaling willingness
re-anchor
Negotiators who want to win a greater share of the bargaining zone can improve their _______.
BATNA
T or F: Revealing your BATNA or RP greatly reduces your power
True
first offer final offer
boulwarism
________ are an opportunity to re-anchor.
counteroffers
Your goal is to get a deal as close to your counterparty’s ________ as possible
reservation point (RP)
A _______ ______ outcome implies the negotiatior did not set their aspirations high enough
winner’s curse
T or F: In a well-prepared negotiation, don’t make the opening offer.
False; make it
Match but never exceed the ________ of your counterparty’s concession
magnitude
T or F: Do not lie about your BATNA or RP as you will greatly reduce the size of the Bargaining Zone.
True
Set HIGH but Realistic ______ ______ (________)
target points (aspiration)
offer so high the other party disappears
chilling effect
________-focused negotiators who set goals in the upper end of the ZOPA are less likely to concede and outperform ________-focused negotiators
prevention; promotion
What paradox claims scientific research negotiators should make the 1st offer called “first movers advantage” (AIM)?
practitioner-research paradox
T or F: Regarding concessions: Tough stance early on and larger when closer to reaching a deal is more effective then conceding early and tightening up.
True
T or F: Negotiators who argue their constraints or limitations do better than discrediting value of an item
True (constraints is better than disparagement)
A psychological sticking point, often a starting point, that sets an important benchmark for
other offers, both positive and negative
anchor point
Reductions that a negotiator makes during the course of a negotiation
concessions
Evenly dividing the two offers currently on the negotiation table
even split
The value a person puts on his or her public image, reputation, and status vis-à-vis other people in the negotiation
face
A negotiation in which parties want to cooperate with their opponent to reach mutual agreement, but must compete to maximize their share of the joint gains
mixed-motive negotiation
The process of making offers and counteroffers in a negotiation
negotiation dance
The positive difference between the settlement outcome and the negotiator’s reservation point
negotiator’s surplus
Making more than one concession in a row before the counterparty responds or counteroffers
premature concessions
When a person is denied the opportunity to restore equity, that person will derogate others,
thereby restoring ________ equity
psychological
In negotiation, an outcome in which negotiators leave money on the table, reach an impasse, or are generally worse off not reaching agreement than reaching agreement
suboptimal outcome
Refers to the arguments or persuasive rationale that often accompanies an offer
substantiation
A situation in which a negotiator makes an offer that is immediately accepted by the opponent, thus signaling the fact that the negotiator offered too much
winner’s curse
The range between negotiators’ reservation points in a negotiation
ZOPA
