1. Irrational escalation of commitment ... tendency
to continue a prior selected cause of action beyond a rational point ( don’t sink any more $, time, effort into it ).
2. The mythical Fixed Pie ... assumes one’s
gain must come at someone else’s expense (loss)(zero-sum).
3.Anchoring & adjustments... tendency to give
too much weight to Initial offer.
4. Framing negotiations... people tend to be overly affected by the way information is presented ( frame it from
i.e. glass is ½ full; $2 raise).
5. Availability of Information ... over reliance
on readily available information as opposed to what is reliable /relevant.
6. The winner’s curse...the regret one feels
after closing a negotiation ( to avoid, gain as much info as possible & put yourself in
7.Overconfidence ... the tendency of people to
ignore contradictions to beliefs & expectations already held ( to counteract, seek qualified advisors/objectivity from neutral