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Psychological Phenomena in Negotiation By James R. Coben Director, Dispute Resolution Institute Hamline University School of Law Jcoben@gw.hamline.edu
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Failure in Negotiations Obvious The Inability to Reach Agreement BUT ALSO Unnecessarily high transaction costs Sub-optimal results
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Competitive Bargaining Tactics high initial demand limited disclosure of information few and small concessions threats and arguments false demands commitment to positions limited authority ploys
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Primary Barriers to Settlement in Unassisted Negotiation Strategic Cognitive Principal/Agent Problems Reactive Devaluation
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The Strategic Barrier Incentive to hide or actively mislead negotiating partner about critical information in order to claim value Rational behavior BUT likely to result in informational poverty and unreliability
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Reactive Devaluation We devalue an offer PRECISELY because it comes from the other side
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Cognitive Barriers Human beings are “hard wired” to distort information in the process of assimilating it It is “natural” for negotiators to act “irrationally”
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Principal/Agent Barrier Agency Benefits Knowledge Resources Skills Strategic Advantages Agency Costs Different Preferences Different Incentives Different Information
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The Psychology of Persuasion Weapons of Influence: Reciprocation Commitment and Consistency Social Proof Liking Authority Scarcity Robert B. Cialdini, The Psychology of Influence (Quill 1993)
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