SPD 317/2 Recap of wk 2

Winner's Curse is an example of.....negotiator.

• Overaspiring

• Underaspiring

• Reluctant

• Confused

Asking yourself "What do I want?" is to set....

• Target point

• Reservation point

• Concession point

• BATNA

The least acceptable

point of the outcome is....

• Reservation Point

• Target

• BATNA

• ZOPA

What is BATNA

• Best Alternative to Non-consensus

  Agreement

• Best Answer to Negotiated Agreement

• Best Alternative To Negotiated Agreement

• Balanced Alternative To Negotiated Agreement

What can be used as a basis of your Reservation Point?

• The number of your counterparts

• The number of your budget

• The number of your predetermined goal

• The number of time spending

Your BATNA should be based on......

• Wishful thinking

• Optimism

• Reality

• Relationship

Which one is NOT true about BATNA?

• BATNA serves like a back up plan

• BATNA is time sensitive

• BATNA allows you to walk away from a negotiation

• BATNA should not be revealed to the other party

Numbers, figures, or values that appear

to be valid but have no basis in fact are....

• Sunk cost

• Focal point

• Reference point

• Endownment

Negotiator who does not know what he or she really wants and and does not want what the other party is willing to offer is.....

• Compromising negotiator

• Risk aversion negotiator

• Positional negotiator

• The grass-is-greener negotiator

A reference

point that reflects his or her

private valuation of the

object

• Sunk Cost Fallacy

• Endowment Effect

• Anchoring Effect