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Negotiation
Smart Contracts Could Help Reduce Corruption
July 27, 2016
3) How far do you see smart contracts impacting (both positively and negatively) the legal sector, given that most contracts are produced at present by lawyers? I think it will have a transformative impact for contracts where clarity of terms is important; a smart contract is almost always clearer than legalese. Sergey Nazarov, CEO, Smartcontract.comI expect they will be used little in contracts where “strategic ambiguity” allows avoiding the discussion of scenarios that don’t need to be discussed...
July 27, 2016
3) How far do you see smart contracts impacting (both positively and negatively) the legal sector, given that most contracts are produced at present by lawyers? I think it will have a transformative impact for contracts where clarity of terms is important; a smart contract is almost always clearer than legalese. Sergey Nazarov, CEO, Smartcontract.comI expect they will be used little in contracts where “strategic ambiguity” allows avoiding the discussion of scenarios that don’t need to be discussed...
The Unconscious Conscience: Implicit Processes and Deception in Negotiation
July 25, 2016
Deception is pervasive in negotiations, and proponents of bounded ethicality propose that the decision to use deception reflects the influence of (unconscious) implicit processes. In this article, we empirically explore the bounded ethicality perspective. In the first experiment, we found that an implicit association between business and morality interacted with the competitive and cooperative characteristics of a negotiation to influence both negotiators' attitudes toward deception and their intentions...
July 25, 2016
Deception is pervasive in negotiations, and proponents of bounded ethicality propose that the decision to use deception reflects the influence of (unconscious) implicit processes. In this article, we empirically explore the bounded ethicality perspective. In the first experiment, we found that an implicit association between business and morality interacted with the competitive and cooperative characteristics of a negotiation to influence both negotiators' attitudes toward deception and their intentions...
Soon Women Can Try Negotiating for Better Pay in Virtual Reality
July 22, 2016
As part of the White House's push to achieve equal pay in the foreseeable future, seven new apps were designed by tech companies and programmers over the course of a two-month hackathon. One of the programs developed was a negotiation simulator that a user can experience in virtual reality. The WSJ reports: Variable Labs, of Oakland, Calif, developed the negotiation simulator. The app for a Samsung Gear VR device intends to help users practice negotiation techniques and improve soft skills in an interview...
July 22, 2016
As part of the White House's push to achieve equal pay in the foreseeable future, seven new apps were designed by tech companies and programmers over the course of a two-month hackathon. One of the programs developed was a negotiation simulator that a user can experience in virtual reality. The WSJ reports: Variable Labs, of Oakland, Calif, developed the negotiation simulator. The app for a Samsung Gear VR device intends to help users practice negotiation techniques and improve soft skills in an interview...
A Small Alcoholic Drink Could Benefit Business Negotiations
July 18, 2016
It is a tradition in many cultures, especially in East Asia, for business negotiations to be accompanied by drinking alcohol. Motivated in part to wonder why this might be, Pak Hung Au and Jipeng Zhang, at Nanyang Technological University in Singapore and Southwestern University of Finance and Economics in China, have tested the effects of a small cup of beer (350ml) on participants' bargaining behaviour. The study in the Journal of Economic Behavior & Organisation involved 114 people playing...
July 18, 2016
It is a tradition in many cultures, especially in East Asia, for business negotiations to be accompanied by drinking alcohol. Motivated in part to wonder why this might be, Pak Hung Au and Jipeng Zhang, at Nanyang Technological University in Singapore and Southwestern University of Finance and Economics in China, have tested the effects of a small cup of beer (350ml) on participants' bargaining behaviour. The study in the Journal of Economic Behavior & Organisation involved 114 people playing...
Length of Eye Contact People Find Most Comfortable
July 17, 2016
It's a dilemma extremely familiar to anyone with social anxiety – for how long to make eye contact before looking away? The fear is that if you only ever fix the other person's gaze for very brief spells then you'll look shifty. If you lock on for too long, on the other hand, then there's the risk of seeming creepy. Thankfully a team of British researchers has now conducted the most comprehensive study of what people generally regard as a comfortable length of eye contact. For the research published...
July 17, 2016
It's a dilemma extremely familiar to anyone with social anxiety – for how long to make eye contact before looking away? The fear is that if you only ever fix the other person's gaze for very brief spells then you'll look shifty. If you lock on for too long, on the other hand, then there's the risk of seeming creepy. Thankfully a team of British researchers has now conducted the most comprehensive study of what people generally regard as a comfortable length of eye contact. For the research published...
Negotiating with Clients You Can’t Afford to Lose
June 26, 2016
If a customer is really pressing you for a discount, talk about features or services the customer would be willing to give up to get it — a “give-get.” These little gems force buyers to recognize that while they may be able to reduce costs, there will be less value in the solution offered. Give-gets force the discussion from price back to where it should be: value. This leads the conversation away from haggling, to a more illuminating and productive discussion around what the customer really...
June 26, 2016
If a customer is really pressing you for a discount, talk about features or services the customer would be willing to give up to get it — a “give-get.” These little gems force buyers to recognize that while they may be able to reduce costs, there will be less value in the solution offered. Give-gets force the discussion from price back to where it should be: value. This leads the conversation away from haggling, to a more illuminating and productive discussion around what the customer really...
How to Deal with the Irrational Parts of a Negotiation
June 23, 2016
Use facts, not threats. Both parties typically come to a negotiation with different perceptions about interests, options, and consequences. At times, you feel a need to challenge their perception of reality. For example, Trevor signed a non-compete when he joined the firm that placed legal obligations on him. Allison thinks Trevor is naïve to the consequences of approaching the firm’s client with his new services. She can bring up her understanding of the non-compete in one of two ways: as fact...
June 23, 2016
Use facts, not threats. Both parties typically come to a negotiation with different perceptions about interests, options, and consequences. At times, you feel a need to challenge their perception of reality. For example, Trevor signed a non-compete when he joined the firm that placed legal obligations on him. Allison thinks Trevor is naïve to the consequences of approaching the firm’s client with his new services. She can bring up her understanding of the non-compete in one of two ways: as fact...
Those With High Scores On A Psychopath Test Are Better At Creative Thinking, The Arts
June 21, 2016
A new study by researchers at De La Salle University in the Philippines suggests those with psychopathic tendencies are often...
June 21, 2016
A new study by researchers at De La Salle University in the Philippines suggests those with psychopathic tendencies are often...
The Three Requirements for a Successful Negotiation
June 14, 2016
My colleague, former judge and prominent mediator/ arbitrator Abraham Gafni gives his students well-known advice: to complete a negotiation successfully, you must provide satisfaction on three fronts. Procedural satisfaction. Everyone believes that the process has followed a fair, agreed-upon procedure. Substantive satisfaction. Although participants may not get all that they want, they can agree on the compromised result. Psychological satisfaction. Participants must feel that the negotiation...
June 14, 2016
My colleague, former judge and prominent mediator/ arbitrator Abraham Gafni gives his students well-known advice: to complete a negotiation successfully, you must provide satisfaction on three fronts. Procedural satisfaction. Everyone believes that the process has followed a fair, agreed-upon procedure. Substantive satisfaction. Although participants may not get all that they want, they can agree on the compromised result. Psychological satisfaction. Participants must feel that the negotiation...
How to Handle the Negotiator Bully
June 8, 2016
If you want to get what you need when the other negotiator is a bully don’t give in but stand up against the bully. That means being smart about preparation and the negotiation process, not copying his or her language or theatrics. Do your homework and out think the bully Bullies don’t care about what the other party thinks. They just want things their way. A bully may think this makes them strong, but it’s actually a weakness and a vulnerability because he or she isn’t doing the necessary...
June 8, 2016
If you want to get what you need when the other negotiator is a bully don’t give in but stand up against the bully. That means being smart about preparation and the negotiation process, not copying his or her language or theatrics. Do your homework and out think the bully Bullies don’t care about what the other party thinks. They just want things their way. A bully may think this makes them strong, but it’s actually a weakness and a vulnerability because he or she isn’t doing the necessary...
