Well, anchoring works even when totally unreasonable. Never let the employer say the first number.
Another example of how the anchoring bias can influence monetary decisions is within salary negotiations. If you are negotiating a salary and your boss begins with an initial salary that is low after negotiating, you might be more likely to accept a lower salary than you would have if your boss had begun with a higher initial salary.
Oh, certainly have a number in mind. If their number isn’t close to the one you have in mind, tell them they’re quite far off and see what they come back with, they may overshoot.
The only time you’d want to give a number is if you have a very good idea of what they’re willing to pay, and I think a lot of people undervalue themselves.
Well, anchoring works even when totally unreasonable. Never let the employer say the first number.
https://www.simplypsychology.org/what-is-the-anchoring-bias.html
Oh, certainly have a number in mind. If their number isn’t close to the one you have in mind, tell them they’re quite far off and see what they come back with, they may overshoot.
The only time you’d want to give a number is if you have a very good idea of what they’re willing to pay, and I think a lot of people undervalue themselves.