Batten down the anchors: Responding to another negotiator's first offer

Brian C. Gunia

Research output: Contribution to journalArticle

Abstract

Drawing from a wealth of negotiation research, my previous installment of Negotiating Life advised negotiators to make the first offer if they can. But sometimes they can't. Sometimes, despite a negotiator's best efforts, the other side moves first. In this article, I provide a framework for responding to another negotiator's first offer, suggesting that the appropriate response varies markedly depending on the quality of the offer. This makes for a more comprehensive strategy for making and managing early offers in a negotiation.

Original languageEnglish (US)
JournalBusiness Horizons
DOIs
StateAccepted/In press - 2017

Keywords

  • Anchoring
  • Anchoring bias
  • Counteroffer
  • First-offer effect
  • Negotiation strategy

ASJC Scopus subject areas

  • Business and International Management
  • Marketing

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