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Please discuss the following excerpt from the article, George Loewenstein, Emotions in Economic Theory and Economic Behavior Please discuss the following excerpt from the article,
Please discuss the following excerpt from the article, George Loewenstein, "Emotions in Economic Theory and Economic Behavior" U In particular, suppose that you are about to enter into a highly-charged bargaining situation in which emotions/visceral factors may influence your bargaining decisions. What steps would you take ahead of time to prevent letting your emotions/visceral factors put you at a bargaining disadvantage? [P]eople's bargaining behavior is power fully colored by emotions such as anger, fear, and embarrassment. The feeling of injustice that people experience when they believe they have been treated unfairly, or preexisting anger toward the people they are negotiating with, often causes them to act contrary to their own economic interests. In the classic pattern of all visceral factors, angry negotiators become obsessed with causing pain to the other side, impatient to impose that pain (and relatively indifferent to the long-term consequences of doing so), and selfish (i.e.,
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