Pay to walk away: Prevention buyers prefer to avoid negotiation

S. Shalvi, G. Reijseger, M.J.J. Handgraaf, K.C. Appelt, F.S. ten Velden, M. Giacomantonio, C.K.W. de Dreu

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11 Citations (Scopus)

Abstract

In bargaining, buyers aim to spend as little money as they can on the items they seek to purchase. Compared to promotion-oriented people, prevention-oriented people seek to avoid losses rather than to secure gains. Employing different negotiation scenarios, three lab experiments tested the prediction that prevention-oriented buyers would thus display higher negotiation aversion than promotion-oriented buyers. Results showed that prevention-oriented people in the role of a potential buyer were willing to accept lower monetary compensation to refrain from entering the negotiation and were more likely to exit the negotiation when such an opportunity was presented to them. We discuss these findings and their contribution to our understanding of how regulatory focus influences consumers’ economic decisions.
Original languageEnglish
Pages (from-to)40-49
JournalJournal of Economic Psychology
Volume38
DOIs
Publication statusPublished - 2013

Keywords

  • regulatory focus
  • integrative negotiation
  • aversive competition
  • expected feedback
  • bargaining table
  • promotion pride
  • decision-making
  • stepping back
  • regret
  • consequences

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    Shalvi, S., Reijseger, G., Handgraaf, M. J. J., Appelt, K. C., ten Velden, F. S., Giacomantonio, M., & de Dreu, C. K. W. (2013). Pay to walk away: Prevention buyers prefer to avoid negotiation. Journal of Economic Psychology, 38, 40-49. https://doi.org/10.1016/j.joep.2012.03.002