An Example of Bounded Awareness in Negotiations Is When Negotiators

question 19

Multiple Choice

An example of bounded awareness in negotiations is when negotiators:

• A)Assume that what worked in one context will not work in another,even when the contexts are similar.
• B)Fail to consider the impact of their decisions on others outside the negotiation
• C)Fail to realize that a publicly known deadline affects them just as much as the other party,and think they are put at an asymmetric advantage.
• D)All of the above.

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Definitions:

Unilateral Mistake

An error made by one party in a contract that does not necessarily void the contract unless the other party was aware and took advantage of the mistake.

Undue Influence

A situation where an individual is able to influence another person's decisions due to a relationship of trust, leading to unfair outcomes.

Independent Advice

Professional advice offered by a party with no vested interest in the outcome, ensuring unbiased and impartial guidance.

Intent To Deceive

The deliberate intention to mislead or deceive someone, typically to gain a legal or financial advantage.