Saturday, June 1, 2013

New Research On The Art Of Negotiation

The results showed that overall, people making an offer using a precise dollar amount such as $5,015 versus a rounded-off dollar amount such as $5,000 were perceived to be more informed about the true value of the offer being negotiated.

This perception, in turn, led precise-offer recipients to concede more value to their counterpart.

In their negotiation scenarios, the professors concluded the person making a precise offer is successfully giving the illusion they have done their homework.

When perceived as better informed, the person on the opposite end believes there is less room to negotiate.

http://m.phys.org/news/2013-05-precise-upper.html

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