Download This PaperAgreement Attraction and Impasse Aversion: Reasons for Selecting a Poor Deal Over No Deal at All
29 Pages Posted: 15 Feb 2016
Date Written: February 15, 2016
Abstract
In the present studies, we examined the positive value of agreement and the negative value of impasse. Participants chose to give up real value and sacrifice economic efficiency in order to attain an agreement outcome and avoid an impasse outcome. A personally disadvantageous option was selected significantly more often when it was labeled “Agreement” rather than “Option A,” and a personally advantageous option was avoided significantly more often when it was labeled “Impasse” rather than “Option B.” In a face-to-face negotiation, a substantial proportion of individuals reached an agreement that was inferior to their best alternative to agreement. We showed that the appeal of agreement and the aversion to impasse both contribute to this effect, yet the aversion to impasse is the stronger of the two motivations. These findings have important implications for negotiators.
Keywords: agreement, impasse, cooperation, negotiation, allocation task
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Selin Kesebir
London Business School ( email )
Regent's Park
NW1 4SA
London
United Kingdom
HOME PAGE: http://people.virginia.edu/~sk8dm
Robin Pinkley
Southern Methodist University (SMU) - Management and Organizations Department ( email )
United States