Article
Anchoring, Information, Expertise, and Negotiation: New Insights from Meta-Analysis
Ohio State Journal on Dispute Resolution
Document Type
Article
Publication Date
1-1-2006
Keywords
- negotiation,
- decision making,
- heuristics,
- anchoring,
- settlement
Disciplines
Abstract
In this article, we conduct a meta-analysis of studies of simulated negotiations to explore the impact of an initial "anchor," typically an opening demand or offer, on negotiation outcomes. We find that anchoring has a significant impact on the deals that negotiators reach. We also explore whether negotiator experience and the information environment mitigate the influence of anchoring. We conclude by offering prescriptive advice, both "offensive" and "defensive," to negotiators.
Citation Information
Chris Guthrie and Dan Orr. "Anchoring, Information, Expertise, and Negotiation: New Insights from Meta-Analysis" Ohio State Journal on Dispute Resolution Vol. 21 (2006) p. 597 ISSN: 1046-4344 Available at: http://works.bepress.com/chris-guthrie/18/