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Cognitive bias is a type of systematic thinking mistake that has an impact on how we understand information, assess options, and make decisions. These mistakes can happen in any circumstance, but they frequently happen during negotiations.
In negotiations, some typical cognitive biases include:
Overconfidence: The propensity to think we are more knowledgeable and accurate than we actually are. This could cause us to make irrational requests or ignore the other person's worries.
An over reliance on the first item of information we are given is known as "anchoring." Because we are linked to a starting figure, this may force us to make choices that are not in our best interests.
Loss aversion: The propensity to favour preventing losses above achieving equal gains. This can lead us to walk away from a negotiation even when it is in our best interests to compromise. Jak1920 (talk) 11:04, 1 July 2023 (UTC)[reply]
Not done - We're not going to get unsourced material like this, see WP:NOR and WP:V. Are you editing as some kind of class or group? We are seeing a lot of attempted additions to this article like this lately. - MrOllie (talk) 11:29, 1 July 2023 (UTC)[reply]
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This article is or was the subject of a Wiki Education Foundation-supported course assignment. Further details are available on the course page. Student editor(s): Mikahlavicino, Hfbaker.
Not done - We're not going to get unsourced material like this, see WP:NOR and WP:V. Are you editing as some kind of class or group? We are seeing a lot of attempted additions to this article like this lately. - MrOllie (talk) 11:29, 1 July 2023 (UTC)