Cognitive psychology distinguishes between fast and slow thinking, and shows how unaware thinking processes cause fallacies in evaluations and decision-making. These findings are highly relevant to negotiation but have not yet been systematically applied. This paper aims to apply these findings to negotiation, to enhance negotiation theory and practice.
This paper is a theoretical and conceptual analysis. Its method comprises of three phases. First, it applies the cognitive psychology distinction between fast and slow thinking to negotiation, therefore distinguishing between negotiating fast and slow. Second, based on that distinction, it defines a typology of four negotiation modes which differ in the ability and tendency to negotiate slowly. Third, based on the distinction and typology, it explains a variety of negotiation-related observations and provides practical implications for negotiators.
The paper first distinguishes between two types of decision-making in negotiation – fast and slow, and then develops a typology of four negotiation modes – Unaware, Stress, Calm and Prepared. Building on this framework, it explains a variety of negotiation-related observations and, consequently, suggests practical implications for negotiators.
This paper is the first to broadly and systematically apply the distinction between fast and slow thinking to the negotiation field. By doing so, it introduces a novel distinction between negotiating fast and slow and develops an original typology of four negotiation modes: Unaware, Stress, Calm and Prepared. Furthermore, the paper provides new explanations for undertheorized negotiation-related observations such as the value of preparation and the role of emotions. Consequently, these insights lead to concrete practical implications for negotiators.
