Posted by Stephen Wood on Sunday, April 28, 2019 Under: Anchoring
The theory of anchoring is that the first offer anchors the subsequent offers and the negotiation. The anchoring bias is the common tendency to give greater weight to the first offer/figure put forward and then inadequately adjust from that starting point/the anchor.
Stephen Wood is an ADR Group Accredited Civil & Commercial Mediator, an ADR Group Accredited Workplace Mediator, an ADR Group Accredited Online Mediator and a Consultant Litigation Solicitor. In 2017 Stephen was appointed to the Panel of Chairs of the Valuation Tribunal of England.
Stephen has undertaken over 90 paid mediations.