preferences

The following items are tagged preferences.

Why Aren’t Mediation and Arbitration More Popular?

Posted by & filed under Daily, Mediation.

Many scholars have noted that the business community would greatly benefit from third-party dispute resolution services. The problem is, there isn’t much demand for mediation or arbitration. If the alternative dispute resolution field has in fact built a better mousetrap, why isn’t the market buying it?

J. Maurits Barendrecht and Berend de Vries of the Faculty of Law at Tilburg University (Tilburg, the Netherlands) explain this inconsistency in terms of imperfections in disputants’ decisions that keep disputants from rationally dealing with their conflict.

Why You Should Make More Than One Offer

Posted by & filed under Sales Negotiations.

Effective negotiators seek opportunities to create value. By making tradeoffs across issues, parties can obtain greater value on the issues that are most important to them. But how can you be sure you’re making the right offer?

Victoria Husted Medvec and Adam D. Galinsky of Northwestern University argued that, in negotiations involving many issues, you can create a great deal of value by making multiple equivalent simultaneous offers or MESOs. This strategy entails identifying several proposals that you value equally and presenting them to the other side.By making multiple offers, the theory goes, you appear more flexible, collect information about the other side’s preferences based on which offer she likes best, and increase the odds of reaching agreement.

Hurry Up and Wait

Posted by & filed under Dispute Resolution.

Suppose that one bargainer is impatient, gritting her teeth and thinking, “Cut to the chase, for Pete’s sake!” Feeling pressured, the other person wants to say, “Easy on the coffee, pal! Let’s give this the time it deserves.”

According to a recent study by professor Karen J. Jansen of Pennsylvania State University’s Smeal College of Business and Amy L. Kristoff-Brown of the Tippie College of Business at the University of Iowa, this different sense of pacing will lead both parties to experience psychological strain.

Shattering the Mold: Value Creation and Creativity in Negotiation

Posted by & filed under Business Negotiations.

When life becomes routine we are more likely to overlook details or, conversely, we cannot see the forest for the trees. In both instances, what we may lack is a creative outlook on the situation at hand. In negotiations, creativity can lead to value-creation for both parties. Coming up with innovative ideas in the middle of the collaborative process can be difficult so how does the skillful negotiator change her mindset to become more creative? The March 2012 issue of the Negotiation newsletter offers three practical tips for obtaining more creative deals with your counterpart in negotiation.

Identify your negotiating style

Posted by & filed under Negotiation Skills.

Have you ever wondered if your negotiating style is too tough or too accommodating? Too cooperative or too selfish? You might strive for an ideal balance, but, chances are, your innate and learned tendencies will have a strong impact on how you negotiate. Wise negotiators seek to identify these tendencies and enhance them according to

When not to show your hand

Posted by & filed under Negotiation Skills.

In all your negotiations, you must calculate the risks and rewards of sharing information with your counterpart. Here, we consider four types of information that may be best kept under wraps: sensitive or privileged information, information that isn’t yours to share, information that diminishes your power, and information that may fluctuate.
Fearful of being hurt by