Negotiators' ________ may lead buyers and sellers to have different valuations for objects.

Question

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Negotiators' reference points, such as their past experiences or cultural norms, can influence their valuations of objects, which may differ from those of their counterparts. Reservation points refer to the minimum or maximum level of agreement that negotiators are willing to accept, while focal points are shared, conspicuous objects or numbers that can serve as reference points in negotiations. Sunk costs are historical costs that cannot be recovered and should not be considered in the decision-making process.

Negotiators' ________ May Lead Buyers and Sellers to Have Different