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

Brian C. Gunia

Business Horizons, 2017, vol. 60, issue 4, 431-434

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 provides a more comprehensive strategy for making and managing early offers in a negotiation.

Keywords: Negotiation strategy; First-offer effect; Anchoring; Counteroffer; Anchoring bias (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:bushor:v:60:y:2017:i:4:p:431-434

DOI: 10.1016/j.bushor.2017.03.013

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