IDEAS home Printed from https://ideas.repec.org/a/eee/joepsy/v23y2002i1p67-76.html
   My bibliography  Save this article

Predicting the outcome of a two-party price negotiation: Contribution of reservation price, aspiration price and opening offer

Author

Listed:
  • Van Poucke, Dirk
  • Buelens, Marc

Abstract

No abstract is available for this item.

Suggested Citation

  • Van Poucke, Dirk & Buelens, Marc, 2002. "Predicting the outcome of a two-party price negotiation: Contribution of reservation price, aspiration price and opening offer," Journal of Economic Psychology, Elsevier, vol. 23(1), pages 67-76, February.
    • Handle: RePEc:eee:joepsy:v:23:y:2002:i:1:p:67-76
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0167-4870(01)00068-X
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Blount, Sally & Thomas-Hunt, Melissa C. & Neale, Margaret A., 1996. "The Price Is Right--Or Is It? A Reference Point Model of Two-Party Price Negotiations," Organizational Behavior and Human Decision Processes, Elsevier, vol. 68(1), pages 1-12, October.
    2. Sheppard, Stephen & Stover, Mark Edward, 1995. "The benefits of transport improvements in a city with efficient development control," Regional Science and Urban Economics, Elsevier, vol. 25(2), pages 211-222, April.
    3. Kristensen, Henrik & Garling, Tommy, 1997. "Determinants of buyers' aspiration and reservation price," Journal of Economic Psychology, Elsevier, vol. 18(5), pages 487-503, September.
    4. Robert B. McKersie & Charles R. Perry & Richard E. Walton, 1965. "Intraorganizational bargaining in labor negotiations," Journal of Conflict Resolution, Peace Science Society (International), vol. 9(4), pages 463-481, December.
    5. Northcraft, Gregory B. & Neale, Margaret A., 1987. "Experts, amateurs, and real estate: An anchoring-and-adjustment perspective on property pricing decisions," Organizational Behavior and Human Decision Processes, Elsevier, vol. 39(1), pages 84-97, February.
    6. Huber, Vandra L. & Neale, Margaret A., 1986. "Effects of cognitive heuristics and goals on negotiator performance and subsequent goal setting," Organizational Behavior and Human Decision Processes, Elsevier, vol. 38(3), pages 342-365, December.
    7. Bonomo, Vittorio A & Johnson, Dana J & Thompson, G Rodney, 1995. "The Impact of the," The Financial Review, Eastern Finance Association, vol. 30(1), pages 23-40, February.
    8. Ritov, Ilana, 1996. "Anchoring in Simulated Competitive Market Negotiation," Organizational Behavior and Human Decision Processes, Elsevier, vol. 67(1), pages 16-25, July.
    9. Kristensen, Henrik & Garling, Tommy, 1997. "The Effects of Anchor Points and Reference Points on Negotiation Process and Outcome," Organizational Behavior and Human Decision Processes, Elsevier, vol. 71(1), pages 85-94, July.
    10. Carroll, John S. & Bazerman, Max H. & Maury, Robin, 1988. "Negotiator cognitions: A descriptive approach to negotiators' understanding of their opponents," Organizational Behavior and Human Decision Processes, Elsevier, vol. 41(3), pages 352-370, June.
    11. Neale, Margaret A. & Huber, Vandra L. & Northcraft, Gregory B., 1987. "The framing of negotiations: Contextual versus task frames," Organizational Behavior and Human Decision Processes, Elsevier, vol. 39(2), pages 228-241, April.
    12. Hilty, John A. & Carnevale, Peter J., 1993. "Black-Hat/White-Hat Strategy in Bilateral Negotiation," Organizational Behavior and Human Decision Processes, Elsevier, vol. 55(3), pages 444-469, August.
    13. White, Sally Blount & Neale, Margaret A., 1994. "The Role of Negotiator Aspirations and Settlement Expectancies in Bargaining Outcomes," Organizational Behavior and Human Decision Processes, Elsevier, vol. 57(2), pages 303-317, February.
    14. Kahneman, Daniel, 1992. "Reference points, anchors, norms, and mixed feelings," Organizational Behavior and Human Decision Processes, Elsevier, vol. 51(2), pages 296-312, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ahmet Ozkardas & Agnieszka Rusinowska, 2013. "An application of wage bargaining to price negotiation with discount factors varying in time," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00881151, HAL.
    2. Wolfram E. Lipp & Remigiusz Smolinski & Peter Kesting, 2023. "Beyond the First Offer: Decoding Negotiation Openings and Their Impact on Economic and Subjective Outcomes," Group Decision and Negotiation, Springer, vol. 32(2), pages 395-433, April.
    3. Iriberri, Nagore, 2016. "Women ask for less (only from men): Evidence from alternating-offer bargaining in the field," CEPR Discussion Papers 11514, C.E.P.R. Discussion Papers.
    4. Colin F. Camerer & Gideon Nave & Alec Smith, 2019. "Dynamic Unstructured Bargaining with Private Information: Theory, Experiment, and Outcome Prediction via Machine Learning," Management Science, INFORMS, vol. 65(4), pages 1867-1890, April.
    5. Barrutia Legarreta, José María & Espinosa Alejos, María Paz, 2012. "Consumer Expertise or Credit Risk? An empirical analysis of mortgage pricing," DFAEII Working Papers 1988-088X, University of the Basque Country - Department of Foundations of Economic Analysis II.
    6. Federica Alberti & Sven Fischer & Werner Güth & Kei Tsutsui, 2018. "Concession Bargaining," Journal of Conflict Resolution, Peace Science Society (International), vol. 62(9), pages 2017-2039, October.
    7. Parco, James E. & Murphy, Ryan O., 2013. "Resistance to truthful revelation in bargaining: Persistent bid shading and the play of dominated strategies," Journal of Economic Psychology, Elsevier, vol. 39(C), pages 154-170.
    8. Dean Gatzlaff & Peng Liu, 2013. "List Price Information in the Negotiation of Commercial Real Estate Transactions: Is Silence Golden?," The Journal of Real Estate Finance and Economics, Springer, vol. 47(4), pages 760-786, November.
    9. Miles, Edward W. & Clenney, Elizabeth F., 2012. "Extremely difficult negotiator goals: Do they follow the predictions of goal-setting theory?," Organizational Behavior and Human Decision Processes, Elsevier, vol. 118(2), pages 108-115.
    10. António Osório, 2020. "On the first-offer dilemma in bargaining and negotiations," Theory and Decision, Springer, vol. 89(2), pages 179-202, September.
    11. Wilken, Robert & Cornelißen, Markus & Backhaus, Klaus & Schmitz, Christian, 2010. "Steering sales reps through cost information: An investigation into the black box of cognitive references and negotiation behavior," International Journal of Research in Marketing, Elsevier, vol. 27(1), pages 69-82.
    12. Majer, Johann M. & Zhang, Kai & Zhang, Hong & Höhne, Benjamin P. & Trötschel, Roman, 2022. "Give and take frames in shared-resource negotiations," Journal of Economic Psychology, Elsevier, vol. 90(C).
    13. Wang, Jingguo & Zionts, Stanley, 2008. "Negotiating wisely: Considerations based on MCDM/MAUT," European Journal of Operational Research, Elsevier, vol. 188(1), pages 191-205, July.
    14. Hernandez-Arenaz, Iñigo & Iriberri, Nagore, 2018. "Women ask for less (only from men): Evidence from bargaining in the field," Journal of Economic Behavior & Organization, Elsevier, vol. 152(C), pages 192-214.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Henrik Kristensen & Tommy Gärling, 2000. "Anchor Points, Reference Points, and Counteroffers in Negotiations," Group Decision and Negotiation, Springer, vol. 9(6), pages 493-505, November.
    2. Kristensen, Henrik & Garling, Tommy, 1997. "Determinants of buyers' aspiration and reservation price," Journal of Economic Psychology, Elsevier, vol. 18(5), pages 487-503, September.
    3. Cardella, Eric & Seiler, Michael J., 2016. "The effect of listing price strategy on real estate negotiations: An experimental study," Journal of Economic Psychology, Elsevier, vol. 52(C), pages 71-90.
    4. Wilken, Robert & Cornelißen, Markus & Backhaus, Klaus & Schmitz, Christian, 2010. "Steering sales reps through cost information: An investigation into the black box of cognitive references and negotiation behavior," International Journal of Research in Marketing, Elsevier, vol. 27(1), pages 69-82.
    5. Willem H. Boshoff & Johannes Paha, 2021. "List Price Collusion," Journal of Industry, Competition and Trade, Springer, vol. 21(3), pages 393-409, September.
    6. Ashleigh Shelby Rosette & Shirli Kopelman & JeAnna Lanza Abbott, 2014. "Good Grief! Anxiety Sours the Economic Benefits of First Offers," Group Decision and Negotiation, Springer, vol. 23(3), pages 629-647, May.
    7. Bottom, William P., 1998. "Negotiator Risk: Sources of Uncertainty and the Impact of Reference Points on Negotiated Agreements," Organizational Behavior and Human Decision Processes, Elsevier, vol. 76(2), pages 89-112, November.
    8. Bond, Samuel D. & Carlson, Kurt A. & Meloy, Margaret G. & Russo, J. Edward & Tanner, Robin J., 2007. "Information distortion in the evaluation of a single option," Organizational Behavior and Human Decision Processes, Elsevier, vol. 102(2), pages 240-254, March.
    9. Brady, Garrett L. & Inesi, M. Ena & Mussweiler, Thomas, 2021. "The power of lost alternatives in negotiations," Organizational Behavior and Human Decision Processes, Elsevier, vol. 162(C), pages 59-80.
    10. Whyte, Glen & Sebenius, James K., 1997. "The Effect of Multiple Anchors on Anchoring in Individual and Group Judgment," Organizational Behavior and Human Decision Processes, Elsevier, vol. 69(1), pages 74-85, January.
    11. Dunne, Timothy C. & Clark, Brent B. & Berns, John P. & McDowell, William C., 2019. "The technology bias in entrepreneur-investor negotiations," Journal of Business Research, Elsevier, vol. 105(C), pages 258-269.
    12. Copeland, Phyllis V. & Cuccia, Andrew D., 2002. "Multiple Determinants of Framing Referents in Tax Reporting and Compliance," Organizational Behavior and Human Decision Processes, Elsevier, vol. 88(1), pages 499-526, May.
    13. Leonardelli, Geoffrey J. & Gu, Jun & McRuer, Geordie & Medvec, Victoria Husted & Galinsky, Adam D., 2019. "Multiple equivalent simultaneous offers (MESOs) reduce the negotiator dilemma: How a choice of first offers increases economic and relational outcomes," Organizational Behavior and Human Decision Processes, Elsevier, vol. 152(C), pages 64-83.
    14. Tey, Kian Siong & Schaerer, Michael & Madan, Nikhil & Swaab, Roderick I., 2021. "The Impact of Concession Patterns on Negotiations: When and Why Decreasing Concessions Lead to a Distributive Disadvantage," Organizational Behavior and Human Decision Processes, Elsevier, vol. 165(C), pages 153-166.
    15. Wang, Jingguo & Zionts, Stanley, 2008. "Negotiating wisely: Considerations based on MCDM/MAUT," European Journal of Operational Research, Elsevier, vol. 188(1), pages 191-205, July.
    16. Oza, Shweta S. & Srivastava, Joydeep & Koukova, Nevena T., 2010. "How suspicion mitigates the effect of influence tactics," Organizational Behavior and Human Decision Processes, Elsevier, vol. 112(1), pages 1-10, May.
    17. António Osório, 2020. "On the first-offer dilemma in bargaining and negotiations," Theory and Decision, Springer, vol. 89(2), pages 179-202, September.
    18. Yossi Maaravi & Asya Pazy & Yoav Ganzach, 2014. "Winning a battle but losing the war: On the drawbacks of using the anchoring tactic in distributive negotiations," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 9(6), pages 548-557, November.
    19. Yossi Maaravi & Aharon Levy, 2017. "When your anchor sinks your boat: Information asymmetry in distributive negotiations and the disadvantage of making the first offer," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 12(5), pages 420-429, September.
    20. Paha, Johannes, 2019. "Anchoring, Reference Prices, and List Price Collusion," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203625, Verein für Socialpolitik / German Economic Association.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:joepsy:v:23:y:2002:i:1:p:67-76. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/joep .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.