ESMT Berlin study: What makes a first offer successful in negotiations
For decades, researchers and practitioners have debated whether it is better to make the first offer in a negotiation or to wait. A new meta-study now provides a comprehensive and clear answer. The researchers analyzed 90 studies with a total of 374 experiments and more than 16,000 participants. Their conclusion: Those who make the first offer and come well prepared generally achieve better outcomes.
The study “The Power and Peril of First Offers in Negotiations” was conducted by Martin Schweinsberg, associate professor of organizational behavior at ESMT Berlin, as part of an international research team led by Hannes M. Petrowsky (Leuphana University). ...