Hidden Brain Relationships 2.0: Become a Better Negotiator
Apr 7, 2025
Max Bazerman, a Harvard Business School behavioral scientist and negotiation expert, dives into the intricate world of negotiation dynamics. He challenges misconceptions, emphasizing the importance of self-awareness over ego in achieving better outcomes. Bazerman discusses the intense bidding wars in the airline industry and the pitfalls of self-sabotage in negotiations. He also highlights the 'veil of ignorance' as a tool for fairness and collaboration, shedding light on how shifting perspectives can lead to more equitable results in both personal and professional settings.
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Campo's Overpayment
- Robert Campo, a real estate developer, acquired Bloomingdale's parent company, Federated, in a bidding war with Macy's.
- He overpaid, leading to his firm's bankruptcy, illustrating the dangers of winning at all costs.
JetBlue's Costly Acquisition
- JetBlue overpaid for Spirit Airlines in a bidding war, resulting in a stock value plunge and the deal's collapse.
- This demonstrates how overconfidence can lead to financial losses.
Harrington's Missed Opportunity
- Baseball player Matthew Harrington repeatedly declined lucrative offers, holding out for more money.
- He never reached the major leagues, highlighting the risks of overconfidence and anchoring.