Sublime

it. If the default fund is terrific and can work well for most participants, or if the choosers are likely to blunder, then it might make sense to encourage people to select the default. If the creators of the default fund are not really experts, if the choosers know a lot, and if the situations of different choosers are relevantly different, then

Obtain information on interests, issues, and perceptions. Probe first, then disclose.

But there is another way. It results in final documents in less than one week and legal bills of less than $15,000 from each side. Investors must pay for legal bills out of their management fee income. This income would otherwise go into their individual pockets, so investors do not like to pay for legal fees (even their own). They would much prefe

Set your target price (your goal). 2. Set your first offer at 65 percent of your target price. 3. Calculate three raises of decreasing increments (to 85, 95, and 100 percent). 4. Use lots of empathy and different ways of saying “No” to get the other side to counter before you increase your offer. 5. When calculating the final amount, use precise, n

To summarize, here are four best practices to consider when principles related to company practice or policy threaten to stall a negotiation:

Michael Porter has a name for this syndrome. He calls it competition to be the best. It is, he will tell you, absolutely the wrong way to think about competition. If you start out with this flawed idea of how competition works, it will lead you inevitably to a flawed strategy. And that will lead to mediocre performance.

The best option, indeed, is the combination that links an openness to free trade with covering individuals against the adverse consequences of exposure to the violent winds of the global market. As Dani Rodrik remarked in 1998, “government

Get an agent and delegate the negotiation task.