How the Bargaining Process Helps Parties Feel Satisfied

In negotiation theory, it is a basic beginner’s rule not to start with your best offer, or your “bottom line.” When I first heard this, I wondered, “Why not?” I had always negotiated by simply deciding what I would pay for an item, and then walking in and offering that price. If the seller accepted my price, great; if not, I would walk out. Simple. Half the time I found that when I walked out, the seller would come after me and accept my price rather than not make a sale. On the other hand, on occasion, they immediately accepted my offer and I kicked myself for offering too much. Nevertheless, I considered this the best approach.

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