Sunk cost tactics - Deepstash
How to Cope With Intrusive Thoughts

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Sunk cost tactics

This is based on the assumption that the more a negotiator has invested in trying to reach an agreement, the less willing they will be to abandon the negotiation.

Tip for the negotiator: Write-off the previous investment. It then has no significant influence on current decisions.  

286

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Deliberate confusion

A tactic sometimes used when the other negotiator is losing ground.

Tip for the negotiator: Skilled negotiators deal with this by:

  • checking their understanding with the other side to ensure both parties hove the same view
  • summarising to confirm agreement on ...

294

831 reads

"Details I can't divulge"

This is one of the most commonly used dirty tricks in negotiation. People using this tactic often appear reluctant to release details of a so ­called competitor offer or other issue on ethical grounds. 

Tip for the negotiator: Even though the other party will probably refuse t...

281

743 reads

Successful Negotiation

The most successful negotiators don't entertain dirty tricks in negotiation but instead strive to reach agreements that are satisfactory to both parties.

But if you find yourself on the receiving end of something that doesn't feel quite right, provided you recognise what's hap...

334

2.04K reads

Jet lag

Jet lag

Used on negotiators who travel long distances: to start meetings while the negotiator's concentration is impeded due to jet lag or fatigue. Jet lag seriously impairs judgement.

Tip for the negotiator: Travel early and leave time for recuperation before mee...

302

1.5K reads

It's different over here

A dirty trick often used against people visiting other cultures.

The approach of "but we always do it this way over here" can be difficult to counter if you're not prepared for it.

Tip for the negotiator: If you suspect this approach in advance, hav...

301

1.38K reads

Rolling concessions

Rolling concessions

This dirty trick is frequently used to gain additional concessions from the unwary when the agreement appears to be in sight.

Giveaway phrases to look out for: “I think we’ve nearly got a deal, if we can just agree on this last item I think we’re there...”

T...

307

1.15K reads

Hot and cold

Hot and cold

The perpetrator attempts to instil panic into the negotiator by changing from a position of enthusiasm with the negotiation to suddenly showing no reaction.

Tip for the negotiator: Being aware of this tactic allows you to remain calm. To counter their silence, and to avoid giv...

298

899 reads

"I haven't the authority"

"I haven't the authority"

A tactic to imply a lack of decision-making authority. The negotiator is quite happy to accept concessions made by the other party but qualifies any concessions asked for by saying, "I'll have to check this out with my boss, as this demand exceeds my mandate".

Tip ...

280

727 reads

Changing negotiators

A tactic sometimes used when the negotiation is not going the way the other party would like.

The new negotiator often denies knowledge of concessions their company has made or claims the previous negotiator had no mandate to make them. At the same time, you are held to the concessio...

285

660 reads

Delays and deadlines

This is an attempt to gain concessions using time pressure.

In its simplest form the trick involves setting a deadline by which time the agreement must be signed, or the deal is off.

Tip for the negotiator: Keep arrangements flexible and build time around your negotiation. Time...

284

1K reads

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I like to focus more on people than technology. I have a passion for teaching.

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11. Sunk Cost Fallacy:

11. Sunk Cost Fallacy:

People continue to invest in a decision or project based on the resources already committed, even when it's clear that further investment won't lead to better outcomes. For instance, you might keep pouring money into a failing business because you've already invested a significant amount.

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