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Negotiating Rationally - Max H. Bazerman

Negotiating Rationally

Paperback Published: 1st January 1994
ISBN: 9780029019863
Number Of Pages: 207

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In Negotiating Rationally, Max Bazerman and Margaret Neale explain how to avoid the pitfalls of irrationality and gain the upper hand in negotiations.

For example, 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.

Industry Reviews

"Chicago Tribune"Insightful, entertaining...draws on the state-of-the-art in decision theory, game theory and psychology. Frederick J. ManningPresident, Celtic Group, Inc.Max Bazerman and Margaret Neale have analyzed and described negotiating behavior in a most clear and helpful manner. Howard RaiffaFrank P. Ramsey Professor of Managerial Economics, Harvard UniversityBased 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 RappaportChairman, the Alcar Group, and Adjunct Professor Kellogg Graduate School of ManagementA 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. Donald P. JacobsDean, J. L. Kellogg Graduate School of ManagementThe 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. 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. James Ramsey President, James Ramsey & 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. 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. 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. 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. Alfred RappaportChairman, 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. Howard RaiffaFrank 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. Frederick J. ManningPresident, Celtic Group, Inc.

Max Bazerman and Margaret Neale have analyzed and described negotiating behavior in a most clear and helpful manner. "Chicago Tribune"Insightful, entertaining...draws on the state-of-the-art in decision theory, game theory and psychology. Donald P. JacobsDean, 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.

Prefacep. vii
Acknowledgmentsp. xi
Introduction to Rational Thinking in Negotiationp. 1
Common Mistakes in Negotiation
The Irrational Escalation of Commitmentp. 9
The Mythical Fixed-Piep. 16
Anchoring and Adjustmentp. 23
Framing Negotiationsp. 31
Availability of Informationp. 42
The Winner's Cursep. 49
Overconfidence and Negotiator Behaviorp. 56
A Rational Framework for Negotiation
Thinking Rationally about Negotiationp. 67
Negotiations in a Joint Venture: A Case Examplep. 77
Rational Strategies for Creating Integrative Agreementsp. 89
Simplifying Complex Negotiations
Are You an Expert?p. 105
Fairness, Emotion, and Rationality in Negotiationp. 116
Negotiating in Groups and Organizationsp. 126
Negotiating Through Third Partiesp. 140
Competitive Bidding: The Winner's Curse Revisitedp. 152
Negotiating Through Actionp. 160
Conclusion: Negotiating Rationally in an Irrational Worldp. 171
Notesp. 177
Indexp. 192
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9780029019863
ISBN-10: 0029019869
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 207
Published: 1st January 1994
Publisher: Simon & Schuster Ltd
Country of Publication: GB
Dimensions (cm): 23.5 x 15.88  x 1.91
Weight (kg): 0.25
Edition Number: 1
Edition Type: New edition

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