The Impact of Time Pressure and Information on Negotiation Process and Decisions

The amount of time available to reach an agreement, information about a negotiator's own position, and information about the opponent's position were manipulated in a simulated contract negotiation. As in decision making research, time pressure in negotiation was expected to decrease respo...

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Bibliographic Details
Published in:Group decision and negotiation 2000-11, Vol.9 (6), p.471-491
Main Authors: Stuhlmacher, Alice F, Champagne, Matthew V
Format: Article
Language:English
Subjects:
Agreements
Bargaining
Decision making
Feedback
Game theory
Information
Modelling
Negotiations
Preferences
Strategic planning
Studies
Time
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Summary:The amount of time available to reach an agreement, information about a negotiator's own position, and information about the opponent's position were manipulated in a simulated contract negotiation. As in decision making research, time pressure in negotiation was expected to decrease response time and change response strategy. Information was expected to be an advantage to negotiators when clarifying their preferences but a disadvantage if information about competing opponent interests was present. Results supported this expectation. Different patterns of concessions and in concessions and inconsistencies were found under high and low time pressure and type of information. [PUBLICATION ABSTRACT]
ISSN:0926-2644
1572-9907
DOI:10.1023/A:1008736622709