The opening offer is also known as a(n) ________ because negotiation researchers have shown that people irrationally fixate on the first number put on the table in a negotiation regardless of how arbitrary it may be.
A) anchor
B) settlement point
C) fixed-pie
D) resistance point

Question

Quizplus · Accepted Answer

The term that fits the given description is "anchor," as it refers to the first number proposed in a negotiation and its ability to influence the subsequent bargaining process. Research has indicated that negotiators tend to be strongly influenced by the anchoring effect, even when the initial offer is objectively arbitrary or irrelevant to the value of the item being negotiated. Therefore, choosing the anchor strategically can be a powerful tool for shaping the negotiation outcome.

The Opening Offer Is Also Known as A(n) ________ Because