Andrew (perspectivism) wrote,
Andrew
perspectivism

importance of perspective

The grass may be greener on the other side of the fence, but...we've got the best gardeners so our land is worth more!

Harvard researchers gave a large group of executives financial and industry information about one company negotiating to acquire another. The executive subjects were randomly assigned to the negotiating roles of buyer or seller; the information provided to each side was identical. After plenty of time for analysis, all subjects were asked for their private assessment of the target company's fair value�as distinct from how they might portray that value in the bargaining process. Those assigned the role of seller gave median valuations more than twice those given by the executives assigned to the buyer's role. These valuation gulfs had no basis in fact; they were driven entirely by random role assignments. ("The Negotiator's Secret", HBS)
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