12-09-2017 10:42 via insuranceinsider.com

Opinion: A bargain loss

Psychologists have proven that in a negotiation it is always a good
tactic to anchor your opponent's expectations with your first
bid.
In experiments one group of people was told a bottle of wine was
worth $20 and another that it was worth $10, then asked what they
would be willing to pay for it.
As you would expect, the $20 group offered significantly more
than the $10 group for the same bottle.
Their expectations had been anchored by the...
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