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- Includes supplementary material: sn.pub/extras
Part of the book series: Lecture Notes in Economics and Mathematical Systems (LNE, volume 595)
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Table of contents (6 chapters)
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Front Matter
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Back Matter
About this book
Negotiations are ubiquitous in business, politics, and private life. In many cases their outcome is of great importance. Yet, negotiators frequently act irrationally and fail to reach mutually beneficial agreements. Cognitive biases like overconfidence, egocentrism, and the mythical fixed pie illusion oftentimes foreclose profitable results. A further cognitive bias is the attachment effect: 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. Thereby, preferences and behavior are approached from a microeconomic and a psychological perspective. Two experiments show clear evidence for a systematic bias. The results can be used for prescriptive advice to negotiators: either for debiasing or to systematically affect the counterparty.
Authors and Affiliations
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Karlsruhe Institute of Technology, Universität Karlsruhe (TH) Institute of Information Systems and Management, Karlsruhe, Germany
Henner Gimpel
Bibliographic Information
Book Title: Preferences in Negotiations
Book Subtitle: The Attachment Effect
Authors: Henner Gimpel
Series Title: Lecture Notes in Economics and Mathematical Systems
DOI: https://doi.org/10.1007/978-3-540-72338-7
Publisher: Springer Berlin, Heidelberg
eBook Packages: Biomedical and Life Sciences, Biomedical and Life Sciences (R0)
Copyright Information: Springer-Verlag Berlin Heidelberg 2007
Softcover ISBN: 978-3-540-72225-0Published: 08 June 2007
eBook ISBN: 978-3-540-72338-7Published: 13 June 2007
Series ISSN: 0075-8442
Series E-ISSN: 2196-9957
Edition Number: 1
Number of Pages: XIV, 268
Number of Illustrations: 34 b/w illustrations
Topics: Behavioral Sciences, Microeconomics, Applications of Mathematics, Operations Research/Decision Theory, Game Theory, Economics, Social and Behav. Sciences, Psychology, general