Choose the answer that best addresses the question posed.
Negotiators can succeed if they can predict when and how their adversary might deviate from a rational pattern during negotiations. Imagine you are the vendor for a major company.
The company wants a discount and is threatening to go to a competing firm.
You emphasize that it would be a shame, since the company already invested millions with your firm. Which cognitive bias are you using?
Escalation of commitment
Overreliance on readily available information