@article{2018:nagler:a_multilev,
title = {A multilevel approach to the process of concession-making in price negotiations},
year = {2018},
note = {First offers are powerful anchors that strongly determine the outcome
of a negotiation. To gain deeper insights into the power of first
offers, we adopt a process-oriented view and analyze the impact of
first offers on single subsequent concessions, in simulations of
distributive price negotiations between a buyer and a seller. Using a
multilevel approach which is new to this field of investigation, the
results show that first offers have a significant influence on all
subsequent concessions made by the buyer and seller, and these
concessions decrease during the course of negotiation. Interestingly,
concessions remain unaffected by the opponent’s preceding
concession. These results thus demonstrate that the first offer is
indeed a powerful anchor, as it influences all single steps required
to reach an agreement.},
journal = {Die Unternehmung},
pages = {37--50},
author = {Nagler and Wilken and Jong, de and Schmitz},
volume = {72},
number = {1}
}