Affect (a.k.a. mood)
An emotional decision-making error in which we allow our emotional state to influence our decisions
Anchoring and adjustment
Opening offers and other positions set anchors from which adjustments or concessions are made
Anger
An emotional-decision making error in which intense negative feelings are directed at the other party & interfere with our ability to think logically & accurately
Attribution error
The tendency to attribute others' successes externally and failures internally, and our own successes internally and failures externally
Availability bias
A mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method or decision
Availability of information
How easily information is retrieved from memory
Cognitive decision-making errors
Errors that are usually caused by using faulty information-processing shortcuts
Competitive arousal
An adrenaline-fueled decision-making error in which emotions interfere with our ability to think logically & accurately
Confirmation trap
The tendency to look for information that supports or justifies our hypothesis and decisions
Egocentrism
The natural restriction on our perception caused by the simple fact that we can only see the world from our perspective. It takes special effort to see the world from any perspective other than through our own eyes. A cognitive bias
Emotional decision-making errors
Biases that are rooted in inconstancies between feelings and actions, feelings and the judgements we make about them, and feelings that arise at different times during a negotiation
Endowment effect
The hypothesis that people ascribe more value to things merely because they own them
Expectations
A perceptual decision-making error in which our experiences match our assumptions: if we think something will be good or bad, it usually is
Extremism bias
A perceptual decision-making error in which we believe our own perception map onto objective reality- when others differ we them as extremists
Focalism
A tendency to overestimate how much we will think about an event in the future and to underestimate the extent to which other events will influence our thoughts and feelings
Framing error
How we say something, not what we say. How a negotiator defines the situation
Fundamental attribution error (a.k.a. correspondence bias or attribution effect)
The tendency for people to place an undue emphasis on internal characteristics (personality) to explain someone else's behavior in a given situation rather than considering the situation's external factors.
Ignoring other's cognitions
A perceptual decision-making error in which we are unable or unwilling to asses another's thoughts, concerns or perspectives
Illusion of transparency
A tendency for people to overestimate the degree to which their personal mental state is known by others. A cognitive bias.
Impact bias
An emotional decision-making error in which we mispredict the intensity or duration of the pleasure or pain that future events will bring
Impression management
A desire to positively manage other's impressions of us
Irrational escalation of commitment
The continuation of a previously selected course of action beyond what rational analysis would recommend. We are unable to ignore sunk or unrecoverable costs.
Miswanting
People make mistakes about how bad they will want something in the future. A lack of coordination between what we want and what actually makes us happy.
Mood (a.k.a. affect)
An emotional decision-making error in which we allow our emotional state to influence our decisions
Overconfidence bias
A decision-making error in which negotiators overestimate their abilities or the occurrence of positive events, and underestimate the occurrence of negative events
Perceptual decision-making errors
Interpersonal biases that have their roots in faulty perceptions of social entities & situations
Perspective taking
The ability to consider the situation from another's point of view
Reactive devaluation
A perceptual decision-making error in which we discount offers or concessions because of who made them
Selective attention
The tendency to notice information that supports or justifies our hypothesis & decisions and to not notice information that contradicts them
Stereotypes
A perceptual decision-making error in which our expectations influence our perceptions of members of a particular group
Mythical Fixed Pie
Erroneous belief that the other party's interest are directly opposed to our own. Caused by a competitive culture, inability to put initial assumptions aside, or negotiating one issue at a time