From "The Value of Contrast Effect in Negotiations": "Translated to the context of financial negotiations, the contrast effect suggests a strategic move: ask for more than you realistically expect, accept rejection, and then shade your offer downward. Your counterpart in the financial negotiations is likely to find a reasonable offer even more appealing after rejecting an offer that
So, you’ve offered what you think is a great deal, but your counterpart doesn’t seem to agree. What’s the problem? The offer may be excellent—it’s how you’ve approached framing in negotiation that’s holding you back.
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Adapted from “Will Your Proposals Hit the Mark?” First published in the Negotiation newsletter.
In negotiation, it’s always better when someone accepts your offer rather than rejecting it, right? Actually, rejection can sometimes be the most effective way to get to “yes.”
Let’s look at another story about consumer behavior, as described by Itamar Simonson of Stanford’s … Read More