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Greetings Decision maker,
When you negotiate, you are surprisingly likely to make bad decisions, ones that doom negotiations that should have succeeded. Many of these mistakes relate to overestimating how well you can read the feelings and thoughts of other parties in the negotiation, as well as the extent to which the other party can read your feelings and thoughts.
Neuroscience scholars call this cognitive bias the illusion of transparency, referring to our tendency to overestimate the extent to which others understand us and how well we grasp others. In any negotiation situation, remember that you’re very likely to be overestimating both how well you explained your position to the other party and how well you understand the other’s perspective. Also keep in mind that the other party is probably making a similar miscalculation about you.
An easy way to address these problems is to use the decision-making strategy of weighing your priorities and having the other party do the same. Then, trade off your lowest priorities against their highest ones and vice versa. You can come to a win-win agreement where both parties realize the biggest gains and experience the least losses.
Want a case study of how to do so? Read this blog:
An interview for The Chronicle of Philanthropy’s article about trust in nonprofits
As always, if you know of any venues that might be interested in interviewing me in audio, video, or text form, or a venue that might want to publish an article written by me, please let me know.
What’s Up With Me I’m delighted to be one of the select few LinkedIn influencers to be personally invited to be part of the new invite-only LinkedIn Newsletter project! My weekly LinkedIn Newsletter is devoted to making wise decisions through neuroscience. Make sure to subscribe to my LinkedIn Newsletter so you get a notification when I publish each week’s article. Simply check out my latest article and click the Subscribe button below the image at the top of the page.
Gleb Tsipursky has written a highly readable and engaging book that describes effective strategies for overcoming the cognitive biases that impair our decision making every day. Business leaders can and should implement these practices so as to avoid the costly mistakes that often lead to disastrous outcomes for their enterprises.
bestselling author of Unlocking Creativity and Know What You Don’t Know, and Trustee Professor of Management, Bryant University
Help Me Serve Your Needs
What’s your experience with what worked during negotiations and what did not? Do you think the methods in the article/video/audio content above can help you address the illusion of transparency in negotiations?
Let me know your thoughts and feelings, as my goal is to help you make the wisest and most
profitable decisions, and your feedback is invaluable for understanding where I’m doing well and where I can improve. Thank you!
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