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Start high in negotiations and low in auctions (businessinsider.com)
1 points by vtry 5061 days ago
1 comments
vtry 5061 days ago
starting prices are a form of 'anchor' - a piece of information which is known to affect subsequent decisions. As the authors note, anchoring has a powerful influence on our reasoning:
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vtry 5061 days ago
It also turns out that, contrary to conventional wisdom, making the first offer is also a good strategy:
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