Mind and Heart of the Negotiator, Second Edition, The

The Major Sins of Negotiation

There are four major shortcomings in negotiation we have observed and documented in our research. They are:

1. Leaving money on the table (also known as “lose-lose” negotiation) occurs when negotiators fail to recognize and exploit win-win potential.

2. Settling for too little (also known as “the winner's curse”) occurs when negotiators make too-large concessions, resulting in a too-small share of the bargaining pie.

3. Walking away from the table occurs when negotiators reject terms offered by the other party that are demonstrably better than any other option available to them. (Sometimes this is traceable to hubris or overweening pride; other times, it results from gross miscalculation.)

4. Settling for terms that are worse than ...