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Negotiation Fever: Loss Aversion in Multi-Issue Negotiations

Author Henner Gimpel



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Henner Gimpel

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Henner Gimpel. Negotiation Fever: Loss Aversion in Multi-Issue Negotiations. In Negotiation and Market Engineering. Dagstuhl Seminar Proceedings, Volume 6461, pp. 1-4, Schloss Dagstuhl - Leibniz-Zentrum für Informatik (2007)
https://doi.org/10.4230/DagSemProc.06461.13

Abstract

Negotiating parties oftentimes do not reach mutually beneficial agreements. A considerable body of research on negotiation analysis compiled a set of so called common biases in negotiations that systematically affect the cognition and behavior of negotiators and thereby influence agreements. The present work adds an additional effect, the attachment effect. This effect biases decision makers in bilateral multi-issue negotiations and influences their preferences via reference points---negotiators get caught in a kind of negotiation fever.
Keywords
  • Negotiation Analysis
  • Consumer Preferences
  • Behavioral Economics
  • Experimental Economics
  • Endowment Effect
  • Loss Aversion

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