In a recent tweet, Elon Musk suggested that human cognitive biases should be taught to everyone at a young age.
Setting aside the early childhood education question, there is no doubt that understanding our cognitive biases makes us better decision makers. And better decision-makers improve negotiations and result in better outcomes in mediation.
Did you know there are 50 of them?
This article explores how the well-known cognitive bias called anchoring can affect a negotiation and how to use it to advantage.
Helping parties face forward and ignore the sunk costs and past slights that lead to a dispute is an important part of the mediator’s job.
Many lawyers in the US and other countries undoubtedly have similar experiences. Legal clients often experience intense stress in the litigation process.
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