Preferences in Negotiations: The Attachment Effect (Lecture Notes in Economics and Mathematical Systems)

✍ Scribed by Henner Gimpel

Publisher: Springer
Year: 2007
Tongue: English
Leaves: 279
Edition: 1
Category: Library

No coin nor oath required. For personal study only.

✦ Synopsis

The attachment effect can hinder effective negotiation. Parties are influenced by their subjective expectations formed on account of the exchange of offers, they form reference points, and loss aversion potentially leads to a change of preferences when expectations change. This book presents a motivation, formalization, and substantiation of the attachment effect. The results can be used for prescriptive advice to negotiators.

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