Ch 2 Key Additional Notes

Question 1

a quantification (dollars or other) of the negotiator’s BATNA

Answer 1

reservation point

Question 2

the tendency to value object more when they own it

Answer 2

endowment effect

Question 3

what you consider the value of a negotiation despite if you or your counterpart own it

Answer 3

valuation

Question 4

a claim made by one party and rejected by another

Answer 4

dispute

Question 5

T or F: Never accept a contract less than your BATNA, you BATNA can and should change as negotiation and leverage evolve

Answer 5

True

Question 6

a negotiators ideal outcome for agreement

Answer 6

target point

Question 7

BATNAs are determined by _______ reality.

Answer 7

objective

Question 8

money already spent or allocated by contract

Answer 8

sunk cost

Question 9

Single issue negotiations are _____ _____

Answer 9

fixed sum (distributed)

Question 10

Single issue negotiations can be expanded to _______ negotiation potential by adding outcomes

Answer 10

integrative

Question 11

T or F: Negotiators who focus on minimizing their losses are more likely to make few concessions and reach fewer agreements.

Answer 11

True

Question 12

The more _____- _______ a negotiator is, the more likely they will make less concessions

Answer 12

risk-averse

Question 13

T or F: Negotiators who face negative loss frame mindset will usually out gain negotiators with a positive gain frame mindset

Answer 13

True

Question 14

Negotiators who operate based on their counterparty’s _______ > than counterparty’s _______ about a negotiation

Answer 14

thinking; feelings

Question 15

A counterparty’s _______ is considered the most important information to have or find out

Answer 15

BATNA

Question 16

how previous negotiations impact future negotiations (long term)

Answer 16

The linkage effect (KNOW THIS)

Question 17

Concessions (increase/decrease) as negotiation close in on deadlines

Answer 17

increase

Question 18

Negotiators with a Fixed-Pie mindset tend to soft bargain(_______), hard bargain(______) or midpoint(_______)
an agreement

Answer 18

capitulation; attack; compromise

Question 19

You should approach negotiations as a ______ ______ vs Fixed Pie

Answer 19

mixed motive

Question 20

where the 2 agreement’s overlap

Answer 20

bargaining zone (ZOPA)

Question 21

The belief that the counterparty’s interests are directly and completely opposed to one’s own

Answer 21

fixed-pie perception

Question 22

The negotiations that take place behind the scenes between a principal and his or her constituents

Answer 22

hidden table

Question 23

A transaction between parties that only occurs once and no future ramifications accrue to either party

Answer 23

one-shot negotiation

Question 24

Approval of a contract by a body or group not necessarily present at the negotiation table

Answer 24

ramification

Question 25

The point at which a negotiator is indifferent between reaching a settlement and walking away from the bargaining table

Answer 25

reservation point

Question 26

Money invested that cannot be recovered

Answer 26

sunk costs

Question 27

The ideal or upper limit of what a negotiator expects to get out of a negotiation. Also called the aspiration or aspiration point

Answer 27

target point

Question 28

A situation in which a negotiator makes an offer or requests something that is immediately accepted by the opponent

Answer 28

winner's curse

Question 29

ZOPA stands for:

Answer 29

Zone of Possible Agreement (bargaining zone)