The effect of time pressure, time elapsed, and the opponent's concession rate on behavior in negotiation

Abstract

Eighty students were run in a laboratory paradigm of negotiation resembling that employed by Siegel and Fouraker. On the first trial, increased time pressure resulted in less ambitious goals, lower levels of demand, and less bluffing. Level of demand and amount of bluffing were reduced over subsequent trials, but goals remained unchanged. Neither time pressure nor the other negotiator's rate of concession affected the rate of change in demand or bluffing over trials. Several items of evidence suggest the presence of substantial wishful thinking about the other negotiator's goals.