Parallel and Divergent Predictors of Objective and Subjective Value in Negotiation
Outstanding Theoretical Paper Award, International Association for Conflict Management, 2010
32 Pages Posted: 20 May 2010 Last revised: 15 Feb 2011
Date Written: February 12, 2011
The negotiation field has been dominated by a focus on objective value, or economic outcomes, with relatively less attention paid to subjective value, or social psychological outcomes. This chapter proposes a framework that highlights the duality of negotiation outcomes by identifying predictors of both objective and subjective value. Whereas some predictors tend to have parallel effects, benefiting objective and subjective value in tandem, other predictors tend to have divergent effects, benefiting objective value while simultaneously undermining subjective value, or vice versa. We further distinguish between predictors typically outside of the negotiator’s control, such as personality traits and individual differences, versus predictors typically within the negotiator’s control, such as behaviors and strategies. We offer twelve examples of predictors that illustrate this new framework, with the aim of advising individuals on how best to manage both objective and subjective value, thereby achieving peak performance in negotiations.
Keywords: negotiation, subjective value, objective value, individual differences, negotiator behaviors, negotiator strategies
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