April 17, 2011

How we feel about the deal

Volume 27, Issue 2, pp. 241–250
Hallam Movius

Recent experimental research suggests that humans are prone to systematic errors when determining how they currently feel, imagining how they will feel about future events, remembering how they have felt about past events, and understanding the preferences that underlie their decisions. In this article, we briefly review three basic assumptions that are called into question by recent findings regarding specific kinds of errors that people are prone to make. We suggest that this line of research has important implications for negotiation theory, research, advice, and practice.