Lecture Notes in Economics and Mathematical Systems

Preferences in Negotiations

The Attachment Effect

Authors: Gimpel, Henner

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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.

Table of contents (6 chapters)

Table of contents (6 chapters)

Buy this book

eBook 96,29 €
price for Spain (gross)
  • ISBN 978-3-540-72338-7
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover 124,79 €
price for Spain (gross)
  • ISBN 978-3-540-72225-0
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
  • Shipping restrictions
  • Usually ready to be dispatched within 3 to 5 business days, if in stock
  • The final prices may differ from the prices shown due to specifics of VAT rules
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Bibliographic Information

Bibliographic Information
Book Title
Preferences in Negotiations
Book Subtitle
The Attachment Effect
Authors
Series Title
Lecture Notes in Economics and Mathematical Systems
Series Volume
595
Copyright
2007
Publisher
Springer-Verlag Berlin Heidelberg
Copyright Holder
Springer-Verlag Berlin Heidelberg
eBook ISBN
978-3-540-72338-7
DOI
10.1007/978-3-540-72338-7
Softcover ISBN
978-3-540-72225-0
Series ISSN
0075-8442
Edition Number
1
Number of Pages
XIV, 268
Number of Illustrations
34 b/w illustrations
Topics