Ch 3: Key Additional Notes

Question 1

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

Answer 1

True

Question 2

When formulating counteroffers and concessions, negotiators need to consider the concession ______, the concession ______, the ______ and ______ to predict their next move.

Answer 2

reciprocity, pattern, magnitude, timing

Question 3

When your counterparty makes an outrageous offer, you must _________ but also allows for signaling willingness

Answer 3

re-anchor

Question 4

Negotiators who want to win a greater share of the bargaining zone can improve their _______.

Answer 4

BATNA

Question 5

T or F: Revealing your BATNA or RP greatly reduces your power

Answer 5

True

Question 6

first offer final offer

Answer 6

boulwarism

Question 7

________ are an opportunity to re-anchor.

Answer 7

counteroffers

Question 8

Your goal is to get a deal as close to your counterparty’s ________ as possible

Answer 8

reservation point (RP)

Question 9

A _______ ______ outcome implies the negotiatior did not set their aspirations high enough

Answer 9

winner’s curse

Question 10

T or F: In a well-prepared negotiation, don’t make the opening offer.

Answer 10

False; make it

Question 11

Match but never exceed the ________ of your counterparty’s concession

Answer 11

magnitude

Question 12

T or F: Do not lie about your BATNA or RP as you will greatly reduce the size of the Bargaining Zone.

Answer 12

True

Question 13

Set HIGH but Realistic ______ ______ (________)

Answer 13

target points (aspiration)

Question 14

offer so high the other party disappears

Answer 14

chilling effect

Question 15

________-focused negotiators who set goals in the upper end of the ZOPA are less likely to concede and outperform ________-focused negotiators

Answer 15

prevention; promotion

Question 16

What paradox claims scientific research negotiators should make the 1st offer called “first movers advantage” (AIM)?

Answer 16

practitioner-research paradox

Question 17

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.

Answer 17

True

Question 18

T or F: Negotiators who argue their constraints or limitations do better than discrediting value of an item

Answer 18

True (constraints is better than disparagement)

Question 19

A psychological sticking point, often a starting point, that sets an important benchmark for
other offers, both positive and negative

Answer 19

anchor point

Question 20

Reductions that a negotiator makes during the course of a negotiation

Answer 20

concessions

Question 21

Evenly dividing the two offers currently on the negotiation table

Answer 21

even split

Question 22

The value a person puts on his or her public image, reputation, and status vis-à-vis other people in the negotiation

Answer 22

face

Question 23

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

Answer 23

mixed-motive negotiation

Question 24

The process of making offers and counteroffers in a negotiation

Answer 24

negotiation dance

Question 25

The positive difference between the settlement outcome and the negotiator’s reservation point

Answer 25

negotiator's surplus

Question 26

Making more than one concession in a row before the counterparty responds or counteroffers

Answer 26

premature concessions

Question 27

When a person is denied the opportunity to restore equity, that person will derogate others, thereby restoring ________ equity

Answer 27

psychological

Question 28

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

Answer 28

suboptimal outcome

Question 29

Refers to the arguments or persuasive rationale that often accompanies an offer

Answer 29

substantiation

Question 30

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

Answer 30

winner's curse

Question 31

The range between negotiators’ reservation points in a negotiation

Answer 31

ZOPA

Question 32

KNOW THIS FOR FINAL: only use your _______ offer when you mean it.

Answer 32

FINAL (ex: do not acknowledge, say "so let me consider your offer and get back")