Synopses & Reviews
In Negotiating Rationally,
Max Bazerman and Margaret Neale explain how to avoid the pitfalls of irrationality and gain the upper hand in negotiations.
Managers tend to be overconfident, to recklessly escalate previous commitments, and fail to consider the tactics of the other party. Drawing on their research, the authors show how we are prisoners of our own assumptions. They identify strategies to avoid these pitfalls in negotiating by concentrating on opponents’ behavior and developing the ability to recognize individual limitations and biases. They explain how to think rationally about the choice of reaching an agreement versus reaching an impasse. A must read for business professionals.
Chicago TribuneInsightful, entertaining...draws on the state-of-the-art in decision theory, game theory and psychology.
Frederick J. Manning President, Celtic Group, Inc. Max Bazerman and Margaret Neale have analyzed and described negotiating behavior in a most clear and helpful manner.
Donald P. Jacobs Dean, J. L. Kellogg Graduate School of Management The information in Bazerman and Neale's book has been central to developing the most popular course in the curriculum at the J. L. Kellogg Graduate School of Management at Northwestern. It has proved to be extraordinarily useful to managers and executives throughout our executive education programs. Their work brings together negotiation analysis and social and cognitive psychology to create unique insights for the practical manager. With the knowledge that I have acquired from the book, I am looking forward to negotiating with them on a more level playing field.
Howard Raiffa Frank P. Ramsey Professor of Managerial Economics, Harvard University Based on gobs of evidence with real managers, the authors not only identify common errors that many negotiators make, but offer sage prescriptive advice on how you can avoid such errors yourself and perhaps exploit the errors of others.
Alfred Rappaport Chairman, the Alcar Group, and Adjunct Professor Kellogg Graduate School of Management A significant contribution to more effective negotiating. Bazerman and Neale's framework coupled with their very impressive range of practical case illustrations will help readers avoid costly negotiation mistakes. The chapter dealing with the "winner's curse" should be required reading for all acquisition-minded CEOs.
James Ramsey President, James Ramsey and Associates This book offers tremendous insight on the negotiation process. Bazerman and Neale have not only written about theory, but made it applicable in the real world.
Includes bibliographical references (p. 177-191) and index.
About the Author
Max H. Bazerman is the J. J. Gerber Distinguished Professor of Dispute Resolution and Organizations and Margaret A. Neale is the H. L. and Helen Kellogg Distinguished Professor of Dispute Resolution and Organizations at the J. L. Kellogg Graduate School of Management at Northwestern University. They are co-authors of Cognition and Rationality in Negotiation (Free Press, 1991).
Table of Contents
1 Introduction to Rational Thinking in Negotiation
Common Mistakes in Negotiation
2 The Irrational Escalation of Commitment
3 The Mythical Fixed-Pie
4 Anchoring and Adjustment
5 Framing Negotiations
6 Availability of Information
7 The Winner's Curse
8 Overconfidence and Negotiator Behavior
A Rational Framework for Negotiation
9 Thinking Rationally about Negotiation
10 Negotiations in a Joint Venture: A Case Example
11 Rational Strategies for Creating Integrative Agreements
Simplifying Complex Negotiations
12 Are You an Expert?
13 Fairness, Emotion, and Rationality in Negotiation
14 Negotiating in Groups and Organizations
15 Negotiating Through Third Parties
16 Competitive Bidding: The Winner's Curse Revisited
17 Negotiating Through Action
18 Conclusion: Negotiating Rationally in an Irrational World