Advice on how to negotiate used to come from two camps. On one side were the economists, who traditionally assume that people act rationality. On the other side were the psychologists, whose research reminds us that humans are often bundles of needs, desires, emotions, and even contradictions.
Kellogg professor Thomas Lys, whose basic training is in economics, and Stanford professor Margaret Neale, whose basic training is in psychology, bridge that divide in their new book, Getting (More of) What You Want: How the Secrets of Economics and Psychology Can Help You Negotiate Anything, in Business and in Life.
“Behavioral economics has become mainstream, and we set out to build on that groundwork to enhance the performance of negotiators,” Lys says. Using decades of empirical research, the two authors have analyzed a range of negotiating strategies to determine which are most effective—and when. Their research led to a number of touchstones for how to negotiate better.