Most people are risk-seeking when it comes to losses, and risk-averse when it comes to gains.
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Negotiations occur only in the business world.
The strategy of making one's first offer one's final offer is known as ________.
A. Illusion of control
B. The blue ocean strategy
C. The gambler's fallacy
D. Boulwarism
The party who ________ obtains a better final outcome.
A. focuses on avoiding negative outcomes
B. sticks to their reservation point
C. sets low aspirations
D. makes the first offer
Bargaining surplus is the amount of overlap between ________.
A. the buyer's target point and the seller's reservation point
B. the buyer's and seller's target points
C. the buyer's and seller's reservation points
D. the buyer's reservation point and the seller's target point
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