Negotiations

Negotiations

Research on negotiations examined effects of the magnitude and precision level of first offers in negotiations. Increasing precision leads to a stronger anchoring pull for negotiation amateurs. For experts, precision backfires unless a convincing rationale is given (Loschelder, Friese, Schaerer, & Galinsky, 2016). A second line of work showed that making the first offer in a negotiation is often helpful, but may be exploited by the opponent if the first offer reveals priority information (Loschelder, Trötschel, Swaab, Friese, & Galinsky, 2016). Other work demonstrated that self-regulation techniques such as goal setting and forming if-then plans can help negotiators overcome the detriments of being in disadvantageous positions such as having low power (for an overview, see Jäger, Loschelder, & Friese, 2015). Current lines of research further examine effects of price precision and effects of stereotypes in negotiations.