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Palgrave Macmillan

Making Negotiations Predictable

What Science Tells Us

ISBN 9781137024787
Publication Date January 2013
Formats Hardcover Ebook (EPUB) Ebook (PDF) 
Publisher Palgrave Macmillan

Negotiation is an everyday activity that everyone, knowingly or unknowingly, engages in. The impact of negotiating can be very significant for revenues and profitability of organizations and individuals. It is also an important determinant of the sustainability of any kind of relationship. Therefore it is important to be an effective negotiator and everybody has the potential to be one.

This book will provide crucial insights into how you can become a great negotiator, by discussing the science and psychology of negotiation techniques. It is a given that many of our negotiations do not always turn out the way we expect. Although for many of us, negotiations are best approached by employing rational procedures, real life shows us the need to understand seemingly irrational behaviours that result in suboptimal outcomes. Most negotiators remain blind to what really motivates them and the other parties in the negotiation. Why? We discuss the biases that prevent us from achieving this understanding. By understanding the psychology of negotiators and the negotiation process, we can make negotiations more predictable and profitable.

DAVID DE CREMER is Professor of Management at China Europe International Business School (CEIBS), Shanghai, and visiting Professor of Organisational Behaviour at London Business School. He has held visiting appointments at other leading universities, including Harvard University and New York University, and has received many outstanding international awards for his research.

MADAN PILLUTLA is the Mike Salamon term Professor of Organisational Behaviour at London Business School and he is recognized as an expert in the field of negotiation and has taught classes on this topic to various audiences, including senior leaders of multinational corporations in different countries, for over 15 years. He is the director of the Negotiation and Influencing Skills Senior Manager programme at the London Business School, where his negotiation classes are among the most sought-after courses.

PART I: INTRODUCTION
The Myth of the Rational Negotiator
What this Book is About
PART II: NEGOTIATION BASICS: STRUCTURE AND PROCESS
Best Alternative to a Negotiated Agreement
The Bottom Line
Zone of Possible Agreement
Distributive and Integrative Negotiations
Try to Understand the Needs of the Other Party
The Negotiator as a Detective
But, Their Problems Are Not Your Problems
How Do You Want to Come Across
Don't be Afraid to Ask
Why a Deadline is Often not a Deadline
PART III: COGNITIVE ERRORS OF NEGOTIATORS
What I Remember is Important – Isn't It?
People Tend to Underestimate the Probability of All Other Problems
Valuing What We Have More Than We Should
Overconfidence
Escalation
'Will you or should I?' The Importance of Anchors
The Myth of the 'Fixed Pie'
Impatience!
PART IV: EMOTIONS AND INTUITION
To be Angry, or not to be Angry?
Intrapersonal Effects
Interpersonal Effects
If Emotions have Nothing to do with the Negotiations
When Intuition Takes Over: System 1 vs. System 2 Thinking
PART V: THE IMPACT OF FRAMING ON NEGOTIATIONS
Social Frames
Negotiating Gains and Losses
Concrete Versus Abstract Thought
Social Pressure!
Where do we Negotiate?
If Representatives are Doing the Negotiations
PART VI: TRUST AND DISTRUST
Giving Trust Creates Trust
Repairing Trust
The Value of an Apology
Compensating People for Financial Losses
PART VII: POWER
Power and Your Understanding of the Other Party
Power and Freedom of Movement
Power can Make you Blind
Acquiring Other People's Power: Asking for Favours
Promises and Threats
PART VIII: FAIRNESS
Multiple Legitimate Criteria to Determine Fairness in Negotiations
Ego-centric Interpretations of Fairness in Negotiations
Belief that One is Fair Leads to Inflexibility in Negotiations
What Would We Recommend?
PART IX: 'MOVING FORWARD TO AN AGREEMENT - SURVEY'

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