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Negotiations week 1

QuestionAnswer
4 basic components of negotiation target point, resistance, zopa, BATNA
target point ultimate goal, more agressive ones help ppl do better in distributive
resistance point walkaway point
ZOPA zone of possible agreement which is space between resistance point of each party
negative zopa no overlap of resistance point so shouldnt reach a deal in distributive
BATNA best alternative to negotiated agreement (what happens if you walk away), should influence target and resistance point
3 ways to prep negotiation know yourself (aspiration, resistance, BATNA) your negotiation partner and strategy
bargaining mix what is there to negotiate, importance of each
sweetner - small concession that can be taken or given - adds something to bargaining mix that is not valuable to you but is to other person - normally come towards end
nibbles false sweetners, ask for last minute, when someone asks for something that is seemingly small but actually costly, throw in to coerce someone
concession moving away from initial offer, giving up value
4 negotiation traps winners curse, hubris maximus, lose lose, agreement bias
winners curse - overpaying or settling for too little - happens when didnt cost out properly, too little space between aspiration and reservation point
hubris maximus - walk away when solution possible (positive zopa) - happens when aspiration point has too much influence
lose lose - when there is still value on the table that neither party gets - happens when compromise too much or dont consider possible creative solutions
agreement bias - so focused on reaching agreement that you leave with deal either worse than when you entered or worse than BATNA - or agree on something beyond reservation
Created by: emilysun77
 

 



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