What Do People Value When They Negotiate? Mapping the Domain of Subjective Value in Negotiation

Abstract

Four studies support the development and validation of a framework for understanding the range of social psychological outcomes valued subjectively as consequences of negotiations. Study 1 inductively elicited and coded elements of subjective value among students, community members, and practitioners, revealing 20 categories that theorists in Study 2 sorted into four underlying sub-constructs: Feelings about Instrumental Outcomes, the Self, Process, and Relationship. Study 3 proposed a new Subjective Value Inventory (SVI) and confirmed its 4-factor structure. Study 4 presents convergent, discriminant, and predictive validity data for this SVI. Indeed, subjective value was a better predictor than economic outcomes of future negotiation decisions. Results suggest the SVI is a promising tool to systematize and encourage research on subjective outcomes of negotiation.

Keywords: Negotiation, social psychological outcomes, subjective value, conflict resolution, dispute resolution, affect, emotions, satisfaction, self-image, relationships, impressions, justice, fairness