Start high in negotiations and low in auctions
businessinsider.com
Start high in negotiations and low in auctions
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Re: Start high in negotiations and low in auctions
#2starting prices are a form of 'anchor' - a piece of information which is known to affect subsequent decisions. As the authors note, anchoring has a powerful influence on our reasoning:
Re: Start high in negotiations and low in auctions
#3starting prices are a form of 'anchor' - a piece of information which is known to affect subsequent decisions. As the authors note, anchoring has a powerful influence on our reasoning:
It also turns out that, contrary to conventional wisdom, making the first offer is also a good strategy: