Chris Voss
👤 SpeakerAppearances Over Time
Podcast Appearances
Never.
So explain to people who haven't read it yet, what that means.
Because when you think about negotiations, the most common thing is one person wants a thing for $10.
One person wants a thing for $20.
Let's meet in the middle and, and decide on 15.
Right, right.
So theoretically, that's a good idea.
The problem is loss stings twice as much as an equivalent gain.
Say that one more time.
A loss stings twice as much as an equivalent gain.
Ignore human nature at your peril.
You can't get around that.
Daniel Kahneman, Professor Kahneman, Nobel Prize in Behavioral Economics, 2002, Prospect Theory.
the summary of it is a loss stings twice as much as an equivalent gain.
So it's a rule of human nature.
So what does that have to do with meeting in the middle?
If I give in by five, I'm going to feel I gave in by 10.
And I'm going to resent you.
I'm not going to care that you gave in the same amount.
I'm going to resent it because it felt like 10.