W6 - Group Dynamics

Question 1

Agent being under obligation not to promote his personal interest by making or pursuing a gain in circumstances in which there is a conflict.

Answer 1

Fiduciary duty

Question 2

Actor 1 - Agreeing to something even if its below your reserve price just because its been after a long negotiation

Answer 2

Agreement bias

Question 3

Number of actors involved in the negotiation

Answer 3

Monolithic vs. non-monolithic

Question 4

Actor 2 - Actors in a negotiation who want NO outcome but pretend they want the outcome

Answer 4

Filibusters

Question 5

Agent 3 - Agent who just agrees with everything you say

Answer 5

Conformity effect

Question 6

Looking at issues in a negotiation one at a time

Answer 6

Sequential Bargaining –> it can shrink the pie and it can limit the the presence of integrative and compatible potential

Question 7

Agent 4 - Agents who tend to make higher demands (anchoring) and are tougher bargainers as well as being less compromising, which could lead to positional bargaining.

Answer 7

Unaccountable agents

Question 8

Agent 5 - When different teams in a negotiation disregard information only know by one party but rather focus on information known by both parties

Answer 8

Common information bias

Question 9

Group Technique 1 - exchanging favours for mutual gains

Answer 9

Logrolling

Question 10

Group Technique 2 - asking for a private meeting with someone in the negotiation who has similar opinions

Answer 10

Private caucusing

Question 11

Group Technique 3 - when information is shared in public but only a certain group of individuals understand what that the information means

Answer 11

Private but public communication

Question 12

Group Technique 4 - giving each actor in the negotiation a number of points to distribute to the different issues to discuss to figure out how to coordinate.

Answer 12

Priority matrix

Question 13

Group Technique 5 - a form of group ideation involving a group of people coming up with ideas

Answer 13

Brainstorming

Question 14

Group Technique 6 - trying to get an agreement on something and the use this as a starting block for more yeses

Answer 14

Avalanching

Question 15

Group Technique 7 - getting an agent to propose a possible solution that they can recommend.

Answer 15

Third Party Proposers –> this is face saving and lets you test the waters. This will counter reactive devaluation

Question 16

Strategies on how to align your preferences with agent when negotiating an agency contract

Answer 16

Incentive alignment

Question 17

Thinking that your in-group is smarter, morally superior, being more hostile to out-groups and devaluate their opinion.

Answer 17

In-group/out-group problems and bias