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Toward a process model of first offers and anchoring in negotiations

  • There is a wide consensus that first offers have a significant impact on negotiation outcomes by causing an anchoring effect. Many aspects of first offers have been analyzed, including factors that lead to making the first offer and characteristics that strengthen the impact of first offers. However, a holistic view of the process of first offers in negotiations remains missing, and significant research gaps must be filled to fully understand the mechanisms of first offers. Furthermore, while extant research contains anecdotal advice for negotiators, no holistic overview of research findings has been presented to date. This study conducted a structured review of 119 journal articles published since 1967, contributing to the field in four main ways: (a) proposing a definition of first offers, (b) integrating previous findings into a process model of first offers in negotiation, (c) summarizing the results to date in a structured literature review, and (d) identifying crucial research gaps that must be addressed. Future research should conduct systematic investigations of the influence of first offers on negotiation outcomes, employing a “negotiation lens” to emphasize the dyadic and interactive character of negotiations.

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Document Type:Article
Author:Wolfram E. LippORCiD, Remigiusz SmolinskiORCiD, Peter KestingORCiD
Center:Center for International Negotiation (CIN)
Parent Title (English):Negotiation and conflict management research : NCMR / International Association for Conflict Management, IACM
Year of Completion:2023
First Page:48
Last Page:79
Tag:Anchoring; Conflict; First offer; Negotiation; Negotiation opening; Structured review
Content Focus:Academic Audience
Peer Reviewed:Yes
Rankings:SJR Ranking / Q2
Licence (German):License LogoCreative Commons - CC BY-NC - Namensnennung - Nicht kommerziell 4.0 International