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Bias in Negotiations

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Of the several biases that are common to the negotiation process, which have you observed in "real life?" What actions have you taken or observed being used to counteract these biases, or alternatively, take advantage of them?

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Solution Summary

What the biases are in negotiation and a personal example of the bias.

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Of the biases in negotiating according to the writers Lewicki, Saunders, Minton, and Barry (2008)

1. Irrational Escalation of Commitment
2. Mythical Fixed Pie Beliefs
3. Anchoring and Adjustment
4. Framing
5. Availability of Information
6. The Winner's Curse
7. Overconfidence
8. The Law of Small Numbers
9. Self-Serving Biases
10. Endowment Effect
11. Ignoring Others ...

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