The Sound of Silence is a song written by and released in 1964 by Simon and Garfunkel. It was used in the movie, The Graduate. Its lyrics include the phrases: “People talking without speaking, People hearing without listening.” It is the last phrase I want to dwell on: People hearing [Read More]
We are all taught that before entering into any negotiation, we should give some thought to what our best alternative is if we do not settle (that is, our Best Alternative to a Negotiated Agreement or BATNA.) And along these lines, we have learned that if we have a really [Read More]
No, I am not talking about sailing, but about a cognitive bias known as anchoring. “Cognitive bias” is defined as “…a systematic error in thinking that occurs when people are processing and interpreting information in the world around them and affects the decisions and judgments that they make.” (https://www.verywellmind.com/what-is-a-cognitive-bias-2794963) “Anchoring“ [Read More]
The Harvard Negotiation PON’s recent blog raises an interesting issue: in a negotiation should you set a goal? In “The Anchoring Effect and How It Can Impact Your Negotiation”, it answers “yes”. Noting that the “anchoring effect is a cognitive bias that describes the common human tendency to rely too [Read More]
