Featured Research

from universities, journals, and other organizations

He Who Hesitates ... Might Get A Bargain

Date:
June 26, 2006
Source:
University of Chicago Press Journals
Summary:
In the first article to examine bargaining behavior from a consumer perspective, researchers from the University of Maryland found that buyers gauge the success of a round of bargaining not by the final price, but by a seemingly innocuous non-verbal cue: how long the seller pauses before responding to the offer.

In the first article to examine bargaining behavior from a consumer perspective, researchers from the University of Maryland found that buyers gauge the success of a round of bargaining not by the final price, but by a seemingly innocuous non-verbal cue: how long the seller pauses before responding to the offer.

"Bargaining outcomes were perceived to be better when an offer was accepted after a delay than when it was accepted immediately, even though the actual outcomes were monetarily equivalent," report Joydeep Srivastava and Shweta Oza in the September issue of the Journal of Consumer Research.

The researchers explain that we tend to view bargaining situations as combative situations in which we either get the better of our opponent or they get the better of us. Thus we use hesitation – whether we are haggling at a flea market or negotiating a salary raise – to gauge whether our opponent is satisfied or conflicted.

"Although most bargaining situations require both cooperation and competition, it appears that for most individuals the competitive aspect of bargaining looms larger," write the authors. "Skillful bargainers may use response time effectively to influence bargaining processes and outcomes in their favor."

Reference: Joydeep Srivastava and Shweta Oza. "Effect of Response Time on Perceptions of Bargaining Outcomes" Journal of Consumer Research. June 2006.


Story Source:

The above story is based on materials provided by University of Chicago Press Journals. Note: Materials may be edited for content and length.


Cite This Page:

University of Chicago Press Journals. "He Who Hesitates ... Might Get A Bargain." ScienceDaily. ScienceDaily, 26 June 2006. <www.sciencedaily.com/releases/2006/06/060625122626.htm>.
University of Chicago Press Journals. (2006, June 26). He Who Hesitates ... Might Get A Bargain. ScienceDaily. Retrieved August 30, 2014 from www.sciencedaily.com/releases/2006/06/060625122626.htm
University of Chicago Press Journals. "He Who Hesitates ... Might Get A Bargain." ScienceDaily. www.sciencedaily.com/releases/2006/06/060625122626.htm (accessed August 30, 2014).

Share This




More Mind & Brain News

Saturday, August 30, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Young Entrepreneurs Get $100,000, If They Quit School

Young Entrepreneurs Get $100,000, If They Quit School

AFP (Aug. 29, 2014) Twenty college-age students are getting 100,000 dollars from a Silicon Valley leader and a chance to live in San Francisco in order to work on the start-up project of their dreams, but they have to quit school first. Duration: 02:20 Video provided by AFP
Powered by NewsLook.com
Baby Babbling Might Lead To Faster Language Development

Baby Babbling Might Lead To Faster Language Development

Newsy (Aug. 29, 2014) A new study suggests babies develop language skills more quickly if their parents imitate the babies' sounds and expressions and talk to them often. Video provided by Newsy
Powered by NewsLook.com
Electrical Stimulation Boosts Brain Function, Study Says

Electrical Stimulation Boosts Brain Function, Study Says

Newsy (Aug. 29, 2014) Researchers found an improvement in memory and learning function in subjects who received electric pulses to their brains. Video provided by Newsy
Powered by NewsLook.com
Treadmill 'trips' May Reduce Falls for Elderly

Treadmill 'trips' May Reduce Falls for Elderly

AP (Aug. 28, 2014) Scientists are tripping the elderly on purpose in a Chicago lab in an effort to better prevent seniors from falling and injuring themselves in real life. (Aug.28) Video provided by AP
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:
from the past week

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins