Cognitive Biases in Negotiation

The video explores various cognitive biases that affect negotiations, such as fixed assumptions, false conflict, escalation of commitment, overconfidence, egocentrism, self-serving bias, framing bias, information availability bias, endowment effect, and reactive devaluation. Understanding these biases is crucial for mitigating their impact and improving negotiation outcomes.

What are cognitive biases and how do they affect negotiations?

Explain the concept of 'false conflict' in negotiations.

What is meant by 'irrational escalation of commitment'?

Describe the impact of overconfidence in negotiation scenarios.

How does 'information availability bias' affect the negotiation process?

What is the 'endowment effect' and how does it influence decision-making?

What strategies can be employed to mitigate the effects of cognitive biases in negotiations?