Neg Ch1

Question 1

Negotiation traps list them

Answer 1

Leaving $ on the table
Settling for too little
Walking away from the table
Settling for terms that are worse than your BATNA

Question 2

4 fundamental biases make people bad negotiators

Answer 2

Egocentrism
Confirmation bias
Satisfying
Self reinforcing incompetence

Question 3

Leaving $ on the table

Answer 3

Don’t create or capitalize on win win potential

Question 4

Settle for too little

Answer 4

Make too large concessions resulting in too small share of pie

Question 5

Settling for terms that are less than BATNA

Answer 5

Feel obligated to reach agreement even when there are better alternatives

Question 6

Egocentrism

Answer 6

Tendency for ppl to view experiences in a way that is positive for them.

Ask about things that you don’t necessarily think are import at.
Deep water mining example

Question 7

Confirmation bias

Answer 7

See what they want to see only. Don’t consider negating evidence to be valid

Question 8

Satisficing

Answer 8

Instead of setting high aspirations and attempting to achieve them, they set low expectations.

Opposite of optimizing

Question 9

Self reinforcing incompetence

Answer 9

Most people are unaware of their own incompetencies

• lack of skill prevents them from producing correct responses
• lack of expertise prevents them from surmising they’re not producing them.

Question 10

What are the myths of negotiating

Answer 10

1 Negotiations are fixed sum
2 Be tough or soft
3 Good negotiators are born
4 Life experience is a great teacher 
5 good negotiators take risks
6 good negotiators rely on intuition

Question 11

1 Negotiations are fixed sum

Answer 11

If you work together you can create more value than separately.

Question 12

2 Be tough or soft

Answer 12

A negotiator is principled. They just work efficiently with the other party while leveraging their own power and strengths.

Question 13

3 Good negotiators are born

Answer 13

Just like riding a bike. You can start more talented but you have to develop those skills.

Question 14

4 Life experience is a great teacher

Answer 14

Play ping pong takes a lifetime but a coach can get you there in three months.

Question 15

5 good negotiators take risks

Answer 15

Using threats/bluffs=tough stir. Rarely effective. Means you’re unprepared.

Question 16

6 good negotiators rely on intuition

Answer 16

Should be deliberate thoughtful and prepared. Good=systematic rather than intuitive.

Question 17

What are cialdini’s principles of persuasion

Answer 17

Liking
Reciprocity
Social proof-consensus
Consistency
Authority
Scarcity