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Differences in expectations about the future often create value in negotiations.
Contingency contracts have three major benefits:
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Anchoring too aggressively. If you make a first offer way outside of the ZOPA, you may have to make large concessions to reach a deal or walk away even though a zone of possible agreement exists.
Anchoring too conservatively. You unknowingly give away a big...
Winner’s curse: The feeling that you overpaid simply because you were the highest bidder.
Open outcry auction: Bidders know the high bid at all times, and have the option of beating it.
Sealed bid auction: Bidders submit written bids and do not know what others bid, or (often) how many bidders there are before the winner is revealed.
Three factors fue...
An auction is a mechanism in which the seller is a passive participant after the process has been set, and the primary source of competitive pressure arises from competition among buyers.
Negotiation is a mechanism in which the primary source of competitive...
Consider the following:
Education officer at museum
All about negotiauctiong: The crossover between negotiation and auctioning.
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