#fear #risk #fakenews #negotiation #anchoring
Tag: anchoring
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10 Things I Learned from “Nudge” by Thaler and Sunstein
Most weekends, my wife and I make it a point to write out a dinner menu, spend an hour shopping, and prep for some dinners in the upcoming week.
It’s not the way we’d prefer to spend Sunday morning. It doesn’t matter. We know that having the menu ready and the food in the house is going to massively increase the chances that we will enjoy a home-cooked dinner.
Restaurant food is always ready to please! “Mmmmm, Burgers!” by m01229, Flickr, CC-By-2.0 The ever-present alternative is restaurant food. I love restaurant food! It’s cooked, it’s salty and fatty and delicious, it’s exactly what I wanted, and I can get it brought right to my front door! (more…)
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Building Rapport for Fun and Profit
Mirroring behavior helps build rapport. Image “our bench days” by phlubdr, Flickr, CC-By-2.0 We choose help people that we like, people that make us happy.
We like people that are similar to ourselves. People that remind us of our best attributes.
Therefor, if we want to be persuasive, we must be likable.
As humans, we mirror one another’s behavior. We reciprocate emotions and we reciprocate favors.
To be persuasive, you (more…)
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Trump’s Real Estate Coups during Manhattan’s Budget Crisis
Put yourself in the action.
That’s how Donald Trump made his first real estate deals in Manhattan.
In 1971, Trump moved into a Manhattan apartment. He began to learn the city and it’s real estate. He talked his way into a club membership at Le Club, where he has the opportunity to rub elbows with future business associates. As a non-drinker, Trump figured he had an advantage in business when he saw how hard the Manhattanites drank. (more…)
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“I aim very high, and then I just keep pushing”
Not everyone is born a deal-maker, Trump warns us. Some people have the instincts, and some don’t. Even if someone has the instincts, they may never get off their couch to try something more ambitious. People are afraid to take chances and that holds them back.
I think we can agree that Trump has been in business for a very long time. He probably knows a thing or two about deals.
“Trump Tower” by Tripp, Flickr, CC-By-2.0 Chapter two of The Art of the Deal covers Trump’s approach to deal making.
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Trump for Liberals Like Me
I see a lot of my friends and family scared with Trump in the Oval Office. Within a year, he went from a clown that many dismissed to the President of the United States. Among my friends, I see suffering and confusion. I hear their stories of protest and anger, fear and sadness.
Photo “women’s-march-nyc-5” by Sarah WY, Flickr CC-By-2.0 I have a different view now that we’ve been learning about Persuasion. And I want to help. -
From Bottled Water to Better Grades
Have you ever felt obliged to do something for someone to repay her for her efforts? Maybe you sent a thank-you card to a great aunt for that fruitcake. That time when you tipped at a restaurant when grabbing takeout. Someone held a door for you and you hurried through, trying to not waste his time.
Obligation goes beyond wanting to do something. You feel like you have to do something. This is reciprocity. You might call it tit-for-tat.
We recently covered anchoring, setting a large opening bid to help sway a negotiation towards that anchor. Reciprocity is almost the opposite.
Bottled Water is a cheap gift to give someone, yet the returns are great. Photo “Bottled Water Macros December 02, 20105” by Steven Depolo, Flickr, CC-By-2.0 My father-in-law recently gave me a great example of reciprocity that he uses in his college classroom. (more…)