Self-Motivation
David Goggins
Former Navy Seal
Career Development
Bryan Cranston
Actor
Critical Thinking
Liv Boeree
International Poker Champion
Emotional Intelligence
Amaryllis Fox
Former CIA Clandestine Operative
Management
Chris Hadfield
Retired Canadian Astronaut & Author
Learn
from the world's big
thinkers
Start Learning

Become a Smarter Negotiator By Using Prospect Theory

Want to make someone an offer they can't refuse? Understand how our minds are hung up on loss aversion, says former FBI negotiator Chris Voss.

In 2002, Daniel Kahneman and Amos Tversky won the Nobel Prize in Economics for a behavioral theory they created and refined between 1979 and 1992: prospect theory. It explained how people weigh up risks in decision making, and part of its findings revealed that we are inherently loss averse, meaning we give at least twice as much decision-making weight to the idea of losses than gains. Losing $5, explains former FBI negotiator Chris Voss, feels like losing $10, and the prospect of gaining $5 will feel joyless coompared to the fear of losing $5. This can be leveraged in negotiations simply by pointing out what is going to be lost if a deal isn’t made, or something isn’t done. The "crazy mathematics" we do in our heads isn’t rational, but understanding it will give you an upper hand in your next negotiation. Chris Voss's book is Never Split the Difference: Negotiating as if Your Life Depended On It.

Keep reading Show less

"Amplification": The Clever Method Women in the White House Use to Be Heard

Female political aides in the White House have banded together and are using a combo-technique of amplification and 'shine theory' to make sure their voices are counted. 

 

President Barack Obama and first lady Michelle Obama meet with mothers in the Oval Office. (Photo by Olivier Douliery/WHITE HOUSE POOL (ISP POOL IMAGES)/Corbis/VCG via Getty Images)

Keep reading Show less

How to Think Like an FBI Negotiator? Use Empathy.

Former FBI negotiator Chris Voss sheds light on communication and indirect messages, the value of empathy in business and in life, and when and how to walk away from a deal.

Chris Voss, former FBI negotiator and current CEO of the Black Swan Group, knows a few things about striking a deal and equally as much about walking away from one that has soured or lost its direction.

Keep reading Show less
Quantcast