Avoiding loss trumps maximizing gain in settlement negotiations and mediation
The Online Guide to Mediation posts on research suggesting avoiding loss influences our choices more than maximizing gain.
The blogs publisher, Diane Levin, observes this research "bears out what mediators often see in their practice." And that "[t]he certainty that a negotiated settlement affords is often far more attractive than the risk of litigation."
She wonders, however, whether the propensity to emphasize loss avoidance "may blind disputants to opportunities to maximize mutual gain" and asks what mediators might do to help disputants 'pull out all the stops on achieving the greatest gain possible."
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