Should you make the first offer in a negotiation?
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Who Has Leverage: Who tends to benefit from making the first offer?
The well-informed side, because first offers anchor. Research shows first offers anchor final outcomes when the opener knows the market. Source: Wikipedia – Anchoring effect
The Best Move: Best move?
Open ambitiously but with a reason. A justified ambitious anchor leaves room to concede. Source: Galinsky & Mussweiler – First offers as anchors (JPSP, 2001)
The Trap: Trap?
Anchoring first when you lack information. If you don't know the range, you might anchor far below what they'd pay. Source: Wikipedia – Anchoring effect