English

Negotiation is best described as

• a contest of wills between opposing parties

• aninter personal decision-making process necessary whenever people cannot achieve their objectives

  single-handedly

• athird-partymediation

• the process of compromise so as to instigate conflict with one side coming out the victor

When negotiators are described as being interdependent, that means people need to know how to

• integrate their interests and work together

• have similar incentives tructures

• beself-sufficientandself-focused

• develop different norms of communication

Being a successful negotiator depends on

• “outsmarting” the counterparty

• the counter party’s lack of preparation

• experiential learning, feedback, and learning newskills

• always letting the other party tip their hand first

One of the major shortcomings in negotiation occurs when negotiators make an offer that is too generous and is immediately accepted by the counterparty. This negotiation trap is called

• egocentrism

• the winner’s curse

• the confirmation bias

• the mixed-motive negotiator

The tendency for people to view their decision making and negotiation abilities in a way that is flattering or

fulfilling for them is known as

• focal points

• self-reinforcing confidence

• reactive devaluation

• egocentrism

Why is the human tendency to satisfice over the long run of a negotiation relationship, detrimental?

• Satisficing creates a competitive negotiation which affects the potential for pie-expansion

• The satisficing party settles foramediocreoption,or some thing less than they could other wisehave

• The satisficing party’s aspirations are too high and therefore they push too aggressively during

  negotiation, creating a feeling of enmity with the other’s party

• The tendency of a person to see what they want when appraising their performance leads people to

  selectively seek information that confirms what they believe is true

A type of negotiation behavior known as reactive devaluation refers to

• a negotiator who does not know what he or she really wants other than not wanting what the other party is offering

• A negotiator who sets the target point too high and refuses to make any concessions

• anegotiatorwhoovervaluesthecounterparty’soffer

• an negotiator who opens the negotiation by setting their target too low

A type of negotiation behavior known as reactive devaluation refers to

• a negotiator who does not know what he or she really wants other than not wanting what the other party is offering

• anegotiator whoset sthetar get point too high and refusesto make any concessions

• anegotiator who over values the counterparty’soffer

• an negotiator who opens the negotiation by setting their target too low

A negotiator’s BATNA (Best Alternative to a Negotiated Agreement) determines the point at which a negotiator is prepared to

• make larger concessions

• keep options open

• walk away from the negotiation table

• identify the counterparty’s alternatives

In negotiation, buyers and sellers may adopt differing bargaining positions for an object, but their private valuations for the object should not differ as a consequence of who has possession. The endowment effect is best described as

• the difference between what seller’s demand and what buyers are willing to pay

• atendency for people to value an object more once they own it

• the intrinsic value we associate with a certain outcome

• saving money instead of purchasing goods