negotiation, first offer, negotiation strategies, human psychology, credible offers

Summary

In this conversation, Michael W Phillips discusses the strategic importance of making the first offer in negotiations. He emphasizes that presenting a number early can influence the negotiation dynamics and set the stage for a more favorable outcome. The discussion highlights the psychological aspects of negotiation and the importance of credibility in the offers made.

Make the first offer in a negotiation.

Academic research supports making the first offer.

Putting a number in the person's head influences negotiation.

An ambitious but credible offer is key.

Waiting for the other party to make the first offer can lead to unfavorable outcomes.

The first offer sets the stage for negotiation dynamics.

Credibility is crucial in negotiation offers.

Silly offers can be dismissed easily.

Negotiation is influenced by human psychology.

Effective negotiation requires strategic thinking.