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Showing posts from March 29, 2020

Common mistakes negotiators make when sharing information

Sharing information builds trust which is the basis for any long term relationship and good outcomes. The art is to understand what information is appropriate to share, what should be kept for a later time and what information can’t be shared. Sharing information also calls for reciprocity meaning that the other party feels obliged to give something in return, in this case also share information. Social psychologists call it The Law of Reciprocity, meaning that when you get something you have the urge to reciprocate and give something in return which in many cases can be far more generous. While information sharing builds trust it is important that before going into a negotiation one must calculate the risks and benefits of sharing information with their counterpart. A common mistake people make is that they share too much information. Sharing too much information can damage your position of power because information is power and the more the other party knows about you and your p