Emotion and the Art of Negotiation

Negotiations can be fraught with emotion, but it's only recently that researchers have examined how particular feelings influence what happens during deal making. Here the author shares some key findings and advice. (1) Anxiety leads to poor outcomes. You will be less nervous about negotiating, however, if you repeatedly practice and rehearse. You can also avoid anxiety by asking an outside expert to represent you at the bargaining table. (2) Anger is a double-edged sword. In some cases it intimidates the other parties and helps you strike a better deal, but in other situations, particularly those involving long-term relationships, it damages trust and goodwill and makes an impasse more likely. To avoid or defuse anger, take a break to cool off, or try expressing sadness and a desire to compromise. (3) Disappointment can be channeled to reach a more satisfactory outcome. Before disappointment becomes regret, ask plenty of questions to assure yourself that you've explored all options. And don't close the deal too early; you might find ways to sweeten it if you keep talking. (4) Excitement isn't always a good thing. Getting excited too early can lead you to act rashly, and gloating about the final terms can alienate your counterparts. But if feelings of excitement, like other emotions, are well managed, everyone can feel like a winner.

• Managing yourself
• Negotiating skills
• Emotional intelligence