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Video of Anchoring Effect in a Negotiation in Negotiation Skills course by Mediator Academy channel, video No. 7 free certified online
A well-known cognitive bias in negotiation, anchoring is the tendency to give too much weight to the first number on the table and then inadequately adjust from that starting point.
When your counterpart has dropped an anchor, the first and perhaps most crucial step is to recognize the move since you can’t defend against something you don’t see coming.
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