Anchoring Your Way to Negotiation Success: The Power of Reference Points

In the high-stakes arena of negotiations, the choices we make can shape the outcome in profound ways. One such strategy that negotiators often employ is the art of anchoring. Anchoring involves introducing a reference point or "anchor" early in a negotiation, strategically influencing the course of the discussion. In this article, we'll delve into the world of negotiation psychology and explore how anchoring, as demonstrated by Dan Ariely's experiments, can be a game-changer in your next negotiation.