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

MIT Sloan Research Paper No. 4544-05

Marketing Science Institute Report

IACM 18th Annual Conference

Journal of Personality and Social Psychology, 91, 493-512, 2006

64 Pages Posted: 20 May 2005 Last revised: 5 Sep 2012

Jared R. Curhan

Massachusetts Institute of Technology (MIT) - Sloan School of Management

Hillary Anger Elfenbein

Washington University in St. Louis, Olin School of Business

Heng Xu

Massachusetts Institute of Technology (MIT)

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

Suggested Citation

Curhan, Jared R. and Elfenbein, Hillary Anger and Xu, Heng, What Do People Value When They Negotiate? Mapping the Domain of Subjective Value in Negotiation. MIT Sloan Research Paper No. 4544-05; Marketing Science Institute Report; IACM 18th Annual Conference; Journal of Personality and Social Psychology, 91, 493-512, 2006. Available at SSRN: https://ssrn.com/abstract=726205

Jared R. Curhan (Contact Author)

Massachusetts Institute of Technology (MIT) - Sloan School of Management ( email )

50 Memorial Drive, E52-554
Cambridge, MA 02142
United States
617-253-5219 (Phone)
617-253-2660 (Fax)

Hillary Anger Elfenbein

Washington University in St. Louis, Olin School of Business ( email )

One Brookings Drive
Campus Box 1133
St. Louis, MO 63130-4899
United States

Heng Xu

Massachusetts Institute of Technology (MIT) ( email )

50 Memorial Drive
Cambridge, MA 02139-4307
United States

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