Psychological Tools and Traps

1. Mythical Fixed Pie Assumption

2. Anchoring
3. Overconfidence
4. Framing
5. Availability: We make decisions on the basis of information
ithat is easy to retrieve.
6. Escalation
7. Reciprocation
8. Contrast Principle
9. Big Picture Perspective
 Psychological Tools and Traps
1. Mythical Fixed Pie Assumption
2. Anchoring
3. Overconfidence
4. Framing
5. Availability
6. Escalation: Negotiators should look at negotiations from the
other side’s perspective.
7. Reciprocation
8. Contrast Principle
9. Big Picture Perspective
 Psychological Tools and Traps
1. Mythical Fixed Pie Assumption
2. Anchoring
3. Overconfidence
4. Framing
5. Availability
6. Escalation
7. Reciprocation: When you give something to the other side,
they feel a need to repay you.
8. Contrast Principle
9. Big Picture Perspective
 Psychological Tools and Traps
1. Mythical Fixed Pie Assumption
2. Anchoring
3. Overconfidence
4. Framing
5. Availability
6. Escalation
7. Reciprocation
8.  Contrast Principle: Items look different when presented in
sequence.
9. Big Picture Perspective
 Psychological Tools and Traps
1. Mythical Fixed Pie Assumption: An assumption that our interests
conflict with the interests of the other side.
2. Anchoring
3. Overconfidence
4. Framing
5. Availability
6. Escalation
7. Reciprocation
8. Contrast Principle
9. Big-Picture Perspective: Don’t get lost in the details.