A cognitive bias is a systematic error in thinking that affects every decision or judgment that you make. Edmund Zagorin developed a software platform called Bid Ops that understands cognitive bias and factors it into the equation when developing quotes for potential buyers or suppliers. The two of us have a conversation about artificial intelligence and its impact on procurement in a recent episode of Negotiations Ninja. According to the Bid Ops Website, “Bid…
How NOT To Use Anchoring In Negotiation. Lessons Learned From President Trump
The negotiations going on between the United States and China here at the outset of 2020 serve as a brilliant example of the power of anchoring in negotiations. President Donald Trump, while a polarizing personality, is incredibly good at using anchors to advance his positions and goals. His tactics are fascinating to watch and to learn from. First, let’s make sure we all know what we’re talking about when referring to “anchoring.” Anchoring…