Perhaps you’ve heard of the ultimatum game. Two... - Deepstash

Perhaps you’ve heard of the ultimatum game. Two participants get an amount of money and one gets to split it while the other has to choose whether or not to take the split. If the individual deciding whether to accept the offer declines, neither wins. 

This sounds fun, but what does this have to do with the power of small talk when selling? Research by Al Roth shows that letting the subjects talk before the game has dramatic effects on outcomes. 83% more offers are fair, and only 5% get rejected. In other words, casual conversation goes a long way!

3

10 reads

CURATED FROM

IDEAS CURATED BY

tomjoad

Introverted Extravert

Braininfluence - Book Summary (The Decision-Making Process)

The idea is part of this collection:

Lifelong Learners

Learn more about psychology with this collection

How to apply new knowledge in everyday life

Why continuous learning is important

How to find and evaluate sources of knowledge

Related collections

Similar ideas

Acknowledge Previous Statements

Before we jump into conclusions or try to make our point, we need to listen and acknowledge what has just been said by the presenter or fellow participant. Not listening or acknowledging what others say leads to long and frustrating conversations where participants are repeating themselve...

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Personalized microlearning

100+ Learning Journeys

Access to 200,000+ ideas

Access to the mobile app

Unlimited idea saving

Unlimited history

Unlimited listening to ideas

Downloading & offline access

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates