Anchoring in Negotiation Strategy

DOI

10.2991/978-94-6463-036-7_167How to use a DOI?

Keywords

Anchoring; Negotiation; Price

ABSTRACT

The essay mainly focuses on the Anchoring effect and it discusses how the anchor functions in real life. To begin with, the term Anchoring is defined and many related types of research are cited to show that anchoring has important uses in our lives. Then, four different types of anchors are provided, and each shows a different way for our ways of thinking. Next, the essay points out how it works in the negotiation strategy, mentions the anchoring of the initial offering and the selective accessibility, and provides an example in the real estate market. There is much evidence given that the anchoring affects this market. It is concluded that the anchoring bias is common in our lives and can easily affect people in different aspects without our perception. It influences people’s consciousness in our minds to affect our decisions.

Copyright

© 2022 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Jinze Guo
AU  - Wei Li
AU  - Zuoming Liu
PY  - 2022
DA  - 2022/12/31
TI  - Anchoring in Negotiation Strategy
BT  - Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
PB  - Atlantis Press
SP  - 1134
EP  - 1138
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-036-7_167
DO  - 10.2991/978-94-6463-036-7_167
ID  - Guo2022
ER  -