The effects of framing and negotiator overconfidence on bargaining behaviors and outcomes

Article Abstract:

The framing of conflict and negotiator overconfidence are two systematic biases suggested as possible influences on the behavior of negotiators, with 100 subjects asked to negotiate a five-issue contract under controlled conditions to examine the alleged biases. It is shown that a positive frame causes more concessionary behaviors and successful performances than a negative frame, and that those showing realistic confidence were more concessionary and more successful than those who were overconfident. Areas for further research opened by the results of this experiment are described, including the effects of systematic biases on the behavior of negotiators and the outcome of negotiations.

Psychological aspects, Social aspects, Research, Management research, Collective bargaining, Confidence

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Negotiating rationally

Article Abstract:

The ability to negotiate is one of the most important factors in business management. To improve one's negotiating ability, it is necessary that biases be recognized and avoided during decisionmaking. These include such prejudices as commitment biases, overdependence on established information and overconfidence. Pointers to consider during actual negotiations include the setting of minimum acceptable conditions, identifying and assigning of priorities and determining possible trade-off zones.

Methods, Small business

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Negotiating rationally: the power and impact of the negotiator's frame

Article Abstract:

The issue of framing and its effects on negotiations are discussed. Framing refers to the cognitive biases maintained by managers in their behavior which reduces the effectiveness of negotiations. The impact of various frames are described and the ways by which managers can use frames to negotiate rationally and to enhance the potential for resolving disputes are outlined.

Decision-making, Decision making, Analysis

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