Article

Toward a Process Model of First Offers and Anchoring in Negotiations

Authors
  • Wolfram Emanuel Lipp (Technical University Munich)
  • Remigiusz Smolinski (HHL Leipzig Graduate School of Management)
  • Peter Kesting (Aarhus University)

Abstract

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. Keywords: negotiation, conflict, first offer, anchoring, negotiation opening, structured review

Keywords: negotiation, conflict, first offer, anchoring, negotiation opening, structured review

How to Cite:

Lipp, W. E. & Smolinski, R. & Kesting, P., (2022) “Toward a Process Model of First Offers and Anchoring in Negotiations”, Negotiation and Conflict Management Research .

Downloads:
Download PDF
View PDF

369 Views

65 Downloads

Published on
03 Aug 2022
Peer Reviewed