Experienced traders are generally comfortable crafting the terms of an economic contract: they negotiate at the best price, negotiate fractional shares and repair detailed exit clauses. But these same experienced professionals often spend so much time drafting the letter of the agreement that they pay little attention to the social contract or the spirit of the agreement. Therefore, while the parties agree on paper on the same conditions, they may have very different expectations about how the agreement will work in practice. Without them coming to a real meeting of heads, the agreement they have signed can get upset. Diplomats deal with difficult people when they participate in international negotiations, in a way that fundamentalist negotiators may find useful in developing their negotiating skills. . Read More In negotiations, your best source of electricity is usually the best alternative to a negotiated agreement or BATNA. A strong external alternative allows you to move away from an agreement that does not meet your needs or that would affect your vision or ethics. But if you are dealing with a negotiating partner who seems irreplaceable. Read more What is BATNA? Negotiations in which each country has the best alternative to a negotiated agreement are scenarios where the incentive for cooperation must exceed the value of alternatives outside the negotiating table. .
Read more Imagine that you are conducting negotiations with representatives of most of the world`s nations on a controversial topic like sustainable development. Where would you start? How would you act in the event of a conflict? How do you know when it was time to finish things? Read What are the effects of cognitive distortions on trading scenarios? The work of negotiators Russell B. Korobkin of UCLA and Chris P. Guthrie of Vanderbilt University suggests how to turn knowledge of four specific biases into tools of conviction. . Read More In sales negotiations, the first offer is often a smart maneuver. The first offer can anchor the ensuing discussion and have a strong influence on the final outcome. But if the other party makes the first offer, you need to be prepared to pay attention to your counter-offer.
What is framing in negotiations? That`s right. Read More The most common causes of social contract problems are lack of consciousness and benign neglect. The parties concerned inevitably expect from the way the agreement is concluded, from the question of whether they discuss it or not. Even if they are compatible at first, these expectations can shift tacitly in response to the measures taken, although there are no honest negotiations. . . .