Having Too Many Options Can Make You a Worse Negotiator
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In: Harvard Business Review, Vol. Online, No. 05/2017, 2017.
Research output: Journal contributions › Journal articles › Research › peer-review
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TY - JOUR
T1 - Having Too Many Options Can Make You a Worse Negotiator
AU - Schaerer, Michael
AU - Loschelder, David
AU - Swaab, Roderick I.
PY - 2017
Y1 - 2017
N2 - The conventional wisdom about negotiating – whether for a job salary or the price of a house – is that you’re better positioned to get what you want when you have more alternative offers to leverage. But recent research shows that having alternative offers does not always help you. In a series of experiments, the authors found that walking into a negotiation with multiple offers, rather than a single one, can actually bias your decisions and lead you to make a lower first offer, hurting your ability to negotiate the outcome you want.
AB - The conventional wisdom about negotiating – whether for a job salary or the price of a house – is that you’re better positioned to get what you want when you have more alternative offers to leverage. But recent research shows that having alternative offers does not always help you. In a series of experiments, the authors found that walking into a negotiation with multiple offers, rather than a single one, can actually bias your decisions and lead you to make a lower first offer, hurting your ability to negotiate the outcome you want.
KW - Psychology
KW - Business psychology
UR - https://hbr.org/2017/05/having-too-many-options-can-make-you-a-worse-negotiator
M3 - Journal articles
VL - Online
JO - Harvard Business Review
JF - Harvard Business Review
SN - 0017-8012
IS - 05/2017
ER -