Adapted from “Are You an Overconfident Negotiator?” by Don A. Moore, Professor, Carnegie Mellon University.

Many negotiators understand the importance of estimating the other side’s reservation price—the worst deal he would accept from you. However, despite the fact that such estimates often are based on hints, clues, and speculation, negotiators are frequently overconfident that their estimates are accurate.

Say, for instance, that … read more »