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Full-Text Articles in Law
What’S The Best Way To Give Ground In A Negotiation?, Kian Siong Tey, Michael Schaerer, Nikhil Madan, Roderick Swaab
What’S The Best Way To Give Ground In A Negotiation?, Kian Siong Tey, Michael Schaerer, Nikhil Madan, Roderick Swaab
Research Collection Lee Kong Chian School Of Business
How much should you change your offer at each round of a negotiation? The stakes can be high: Give away too much and you devalue your offer; give away too little and you risk getting stuck in an impasse. The authors’ recent research shows that a rare approach to concessions — reducing the amount by which you reduce your offer each round — can yield the most value because it sends a clear signal about your final offer.