N5

Perception, Cognition, and Emotion
We have learned the basic building blocks of all social encounters, including negotiation. Perception, Cognition, Framing, and Emotion is related to the process of negotiation.

Perception is a "sense-making" process that begin with stimulus, attention, recognition, translation, and effecting by behavior.

Framing is a key issue in perception and negotiation, frames define a person, event, or process and separate it from the complex world around vs. Frames are improtant in negotiation because people can encounter the same dispute and perceive it in very different ways as a result of their backgrounds, professional training or past experiences.

Cognitive Biases in Negotiation include

1. Irrational Escalation of Commitment
2. Mythical Fixed-Pie Beliefs
3. Anchoring and Adjustment
4. Issue Framing and Risk
5. Availability of Information
6. The Winner's Curse
7. Overconfidence
8. The Law of Small Numbers
9. Self-Serving Biases
10. Endowment Effect
11. Ignoring Others' Cognitions
12. Reactive Devaluation

Finally, we have learned managing Misperception and Cognitive Biases in Negotiation and considered mood and emotion in negotiation.