Action Pack — Escape the Anchoring Trap in Negotiations
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About the Article
The Trap That Skilled Negotiators Miss
By Monica Wadhwa and Krishna Savani
In negotiations, first offers act as powerful psychological anchors — and even skilled negotiators struggle to escape them. New research published in the Journal of Experimental Social Psychology finds that adopting a choice mindset when you receive a first offer can reduce anchoring: The simple act of reminding yourself that you can choose any counteroffer expands the range of options you consider, helping you negotiate on your own terms.
