Exam 6: Perception, Cognition, and Emotion

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The winner's curse refers to the tendency of negotiators, particularly in an auction setting, to settle quickly on an item and then subsequently feel discomfort about a negotiation win that comes too easily.

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Those attempting to negotiate in China recognize the value the Chinese place in saving "face." All of the following cultural elements should be examined in approaching discussions with the Chinese, except:

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Perception is a "sense-making" process; people interpret their environment so they can make appropriate responses to it.

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