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Getting (More of) What You Want

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Getting (More of) What You Want

How the Secrets of Economics and Psychology Can Help You Negotiate Anything in Business and in Life

Basic Books,

15 min read
10 take-aways
Audio & text

What's inside?

Whether you love or hate negotiating, you must learn how to get more of what you want.

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Editorial Rating

8

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  • Applicable

Recommendation

Negotiation is an essential skill. Yet people tend to regard the ability to negotiate as a personality trait to develop rather than as an expertise to build. Margaret A. Neale of the Stanford Business School and Thomas Z. Lys of the Kellogg School of Management at Northwestern University offer the ultimate negotiating model. They base their approach on extensive research and the precepts of behavioral economics. Their book covers such negotiating basics as how to create and claim value, and then it delves into more complicated aspects of negotiating, such as power plays and concessions. Unfortunately, repetition and circular logic sometimes muddy their stream of thought. If you find yourself rereading certain passages looking for clarity just check the helpful end-of-chapter summaries. getAbstract recommends this in-depth behavioral analysis of negotiating strategy to those seeking to elevate their prowess at the bargaining table.

Summary

Negotiating’s Bad Rap

Most people are comfortable negotiating when they buy big-ticket items such as a car or a house, but they often don’t realize that negotiation is appropriate for all kinds of transactions. To become more comfortable negotiating in a variety of circumstances, try to view it as a collaborative problem-solving process rather than a battle. Negotiating is uncomfortable if you believe it produces only winners and losers. Negotiations also are not beneficial when they cost more in time, energy and money than you can gain. Opt out if the benefits are too small or if the risks are too great.

Human thinking often yields to “confirmation bias”; people readily accept incoming data that support their preconceived notions. This innate characteristic may prevent them from negotiating if they believe the discussion will create unnecessary conflict or the outcome is not worth the time. Gender plays a role. Women are more reluctant to negotiate than men. People also aren’t inclined to negotiate such issues as starting salary if they think they’ll look greedy or difficult.

Your salary demands will influence your new employer’s assessment of your talents. ...

About the Authors

Margaret A. Neale teaches at the Graduate School of Business at Stanford University and wrote Negotiating Rationally on bargaining. Thomas Z. Lys teaches accounting at the Kellogg School of Management at Northwestern University and edits the Journal of Accounting & Economics.

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