Max Bazerman

You'd tell them where you want to go, and they would make me an offer, which would be too high, and you'd haggle, and typically in about 40 seconds, you'd converge on a price. You know, the first few days, they laughed at me, and they would basically tell me that I paid 40 cents too much or 80 cents too much, and that gave them a great chuckle, and they were happy. But I would say within two weeks,

You'd tell them where you want to go, and they would make me an offer, which would be too high, and you'd haggle, and typically in about 40 seconds, you'd converge on a price. You know, the first few days, they laughed at me, and they would basically tell me that I paid 40 cents too much or 80 cents too much, and that gave them a great chuckle, and they were happy. But I would say within two weeks,

I had some increased credibility based on my sort of mastering the art of negotiating with the taxi driver. But then the problem showed up, and that was my spouse. She flies into town. We go for a long walk the first evening to go to a restaurant across town, come out of the restaurant, and – My wife, Marla, she's a bit tired from having flown from the U.S. to Bangkok that day. Yeah.

I had some increased credibility based on my sort of mastering the art of negotiating with the taxi driver. But then the problem showed up, and that was my spouse. She flies into town. We go for a long walk the first evening to go to a restaurant across town, come out of the restaurant, and – My wife, Marla, she's a bit tired from having flown from the U.S. to Bangkok that day. Yeah.

I had some increased credibility based on my sort of mastering the art of negotiating with the taxi driver. But then the problem showed up, and that was my spouse. She flies into town. We go for a long walk the first evening to go to a restaurant across town, come out of the restaurant, and – My wife, Marla, she's a bit tired from having flown from the U.S. to Bangkok that day. Yeah.

And I held down a taxi. And in my best tie, I say to the taxi driver, which I think means something like, can you take me to the Shell station by the corner of Jurongpon? And in response to this, he holds up seven fingers for 70 baht, which is basically worth $2.80 at the time of the story. A dramatically high price for the ride I was asking him about.

And I held down a taxi. And in my best tie, I say to the taxi driver, which I think means something like, can you take me to the Shell station by the corner of Jurongpon? And in response to this, he holds up seven fingers for 70 baht, which is basically worth $2.80 at the time of the story. A dramatically high price for the ride I was asking him about.

And I held down a taxi. And in my best tie, I say to the taxi driver, which I think means something like, can you take me to the Shell station by the corner of Jurongpon? And in response to this, he holds up seven fingers for 70 baht, which is basically worth $2.80 at the time of the story. A dramatically high price for the ride I was asking him about.

So I respond by holding up three fingers, or $1.20. Okay. To which he responds with five fingers, or $2.00. Eventually, he comes down to four fingers or $1.60. I'm holding at $1.20, which I've already taken this ride for $1.20, so I know I can get it for $1.20. And he responds by driving away. So I held down another taxi driver who starts at a much more reasonable five fingers or $2.

So I respond by holding up three fingers, or $1.20. Okay. To which he responds with five fingers, or $2.00. Eventually, he comes down to four fingers or $1.60. I'm holding at $1.20, which I've already taken this ride for $1.20, so I know I can get it for $1.20. And he responds by driving away. So I held down another taxi driver who starts at a much more reasonable five fingers or $2.

So I respond by holding up three fingers, or $1.20. Okay. To which he responds with five fingers, or $2.00. Eventually, he comes down to four fingers or $1.60. I'm holding at $1.20, which I've already taken this ride for $1.20, so I know I can get it for $1.20. And he responds by driving away. So I held down another taxi driver who starts at a much more reasonable five fingers or $2.

I respond $1.20. He comes down to four fingers or $1.60. And I respond with three fingers and he drives away. At which point, Marla, my tired spouse, says, what's going on? And I explained to her that they were both asking for $1.60 when the fair price is $1.20. And she says, so you're telling me I'm standing here because you're too cheap to pay an extra 40 cents?

I respond $1.20. He comes down to four fingers or $1.60. And I respond with three fingers and he drives away. At which point, Marla, my tired spouse, says, what's going on? And I explained to her that they were both asking for $1.60 when the fair price is $1.20. And she says, so you're telling me I'm standing here because you're too cheap to pay an extra 40 cents?

I respond $1.20. He comes down to four fingers or $1.60. And I respond with three fingers and he drives away. At which point, Marla, my tired spouse, says, what's going on? And I explained to her that they were both asking for $1.60 when the fair price is $1.20. And she says, so you're telling me I'm standing here because you're too cheap to pay an extra 40 cents?

And I said, well, you have to understand, I have to explain to my students tomorrow morning how much I paid. And this did not impress my spouse at all. And so in this story, you have this notion of sort of is it worth the cost of disputing? So I was literally keeping my tired spouse awake on the streets of Bangkok, Thailand over 40 cents.

And I said, well, you have to understand, I have to explain to my students tomorrow morning how much I paid. And this did not impress my spouse at all. And so in this story, you have this notion of sort of is it worth the cost of disputing? So I was literally keeping my tired spouse awake on the streets of Bangkok, Thailand over 40 cents.

And I said, well, you have to understand, I have to explain to my students tomorrow morning how much I paid. And this did not impress my spouse at all. And so in this story, you have this notion of sort of is it worth the cost of disputing? So I was literally keeping my tired spouse awake on the streets of Bangkok, Thailand over 40 cents.

And you can easily argue that I could have paid the additional 40 cents. So you can see how getting a good deal can take over things.

And you can easily argue that I could have paid the additional 40 cents. So you can see how getting a good deal can take over things.

And you can easily argue that I could have paid the additional 40 cents. So you can see how getting a good deal can take over things.