Start high in negotiations and low in auctions

Start high in negotiations and low in auctions (businessinsider.com)

1 points by vtry 14 years ago | 2 comments

vtry 14 years ago |

starting prices are a form of 'anchor' - a piece of information which is known to affect subsequent decisions. As the authors note, anchoring has a powerful influence on our reasoning:

vtry 14 years ago | |

It also turns out that, contrary to conventional wisdom, making the first offer is also a good strategy:

vtry 14 years ago |

starting prices are a form of 'anchor' - a piece of information which is known to affect subsequent decisions. As the authors note, anchoring has a powerful influence on our reasoning:

vtry 14 years ago | |

It also turns out that, contrary to conventional wisdom, making the first offer is also a good strategy: