What do people value when they negotiate? Mapping the domain of subjective value in negotiation.
Four studies support the development and validation of a framework for understanding the range of social psychological outcomes valued subjectively as consequences of negotiations. Study 1 inductively elicited and coded elements of subjective value among students, community members, and practitioners, revealing 20 categories that theorists in Study 2 sorted into 4 underlying subconstructs: Feelings About the Instrumental Outcome, Feelings About the Self, Feelings About the Negotiation Process, and Feelings About the Relationship. Study 3 proposed a new Subjective Value Inventory (SVI) and confirmed its 4-factor structure. Study 4 presents convergent, discriminant, and predictive validity data for the SVI. Indeed, subjective value was a better predictor than economic outcomes of future negotiation decisions. Results suggest the SVI is a promising tool to systematize and encourage research on subjective outcomes of negotiation.
Curhan
Jared R
JR
Sloan School of Management, Massachusetts Institute of Technology, 50 Memorial Drive, Cambridge, MA 02142, USA. curhan@post.harvard.edu
Elfenbein
Hillary Anger
HA
Xu
Heng
H
D000328:Adult; D001290:Attitude; D005260:Female; D006801:Humans; D008297:Male; D017008:Negotiating; D012649:Self Concept; D012935:Social Justice; D011795:Surveys and Questionnaires; D035502:Trust