Negotiation under time pressure

In this negotiation, Vin Diesel ruthlessly uses a plethora of persuasive and negotiation techniques. In particular, he skilfully places his negotiation partner (Dr. Jacobs) under time pressure. Unfortunately, by being under pressure Dr. Jacobs finds himself in a very disadvantageous position and become susceptible to Diesel’s tricks and techniques by signing on to a deal that fits exclusively to Diesel’s demands.

Stuhlmacher and Champagne (2000) conducted a laboratory experiment to assess how time pressure influenced negotiations. The two main conditions (amongst others) were whether the participant was under high or low time pressure. Participants were given the role of a job applicant for an entry-level restaurant management position. Their task was to negotiate with a computer (representing the interests of the restaurant) on the matters of compensation and benefits. The computer offered various amounts of starting salary, vacation days, amount of commission, start dates and medical coverage. The computer screen displayed the amount of time remaining in the negotiation. The computer and participants had opposing interests. For instance, the restaurant preferred to pay lower salaries, while the participants preferred higher salaries. Participants were free to give, accept and / or reject offers given by the computer. Their results reported that under high time pressure, less explorations of alternatives occurred and more concessions between the two negotiating parties. These findings support that deals are made under high time pressure, but the quality of the deal is questionable.

References:

Stuhlmacher, A. F., & Champagne, M. V. (2000). The impact of time pressure and information on negotiation process and decisions. Group Decision and Negotiation, 9, 471 – 191.