A psychological bias that illuminates how we negotiate, predict our emotions, agree a price and much more...
To illustrate the anchoring effect, let's say I ask you how old Mahatma Gandhi was when he died.
For half of you I'll preface the question by saying: "Did he die before or after the age of 9?" For the other half I'll say: "Did he die before or after the age of 140?"
Obviously these are not very helpful statements. Anyone who has any clue who Gandhi was will know that he was definitely...
Does thinking too specifically about a bet make you more likely to lose?
I'm not, as they say, a betting man; but if I were I'd put down the form book and spend my time studying a new paper by Yoon et al. (2013) published inPsychological Science.
The Korean researchers are fascinated by the question of whether thinking more carefully about a bet can actually make you less likely to win.
In their first test of the idea they looked at 1.9 billion bets placed on baseball and soccer through...
There is much that the latest developments in neuroscience can teach legal professionals about negotiations. This is particularly true when it comes to how people process information and make decisions. Mediators and lawyers alike can benefit particularly from what neuroscientists have revealed about priming and framing, two potent filtering mechanisms that can either inflame the emotional barriers to settlement or potentially defuse them.
[Author's Warning: This entry involves references to and discussions about the system of Cartesian Coordinates and how it might assist mediators in reality testing and reframing. Readers with a Math Phobia are advised to proceed with cautious abandonment.]
[Author’s postscript: As I finish writing this, it becomes increasingly clear to me that some readers may find the ideas in this entry, if not a bit bizarre, then certainly off the wall. I promise next month, I will write something a little...