Start high in negotiations and low in auctions(businessinsider.com)

1 pointsby vtry14 lat temu2 comments

Start high in negotiations and low in auctions

http://www.businessinsider.com/how-to-be-a-better-negotiator-2012-8?op=1

2 comments

vtry14 lat temu

starting prices are a form of 'anchor' - a piece of information which is known to affect subsequent decisions. As the authors note, anchoring has a powerful influence on our reasoning:

vtry14 lat temu

It also turns out that, contrary to conventional wisdom, making the first offer is also a good strategy: