The Objective Value of Subjective Value: A Multi-round Negotiation Study

Jared R. Curhan

Massachusetts Institute of Technology (MIT) – Sloan School of Management

Hillary Anger Elfenbein

Washington University in St. Louis, Olin School of Business

Noah Eisenkraft

University of Pennsylvania – The Wharton School

July 9, 2008

MIT Sloan Research Paper No. 4696-08
Journal of Applied Social Psychology, Forthcoming


A 2-round negotiation study provided evidence that positive feelings resulting from one negotiation can be economically rewarding in a second negotiation. Negotiators experiencing greater subjective value (SV) – that is, social, perceptual, and emotional outcomes from a negotiation – in Round 1 achieved greater individual and joint objective negotiation performance in Round 2, even with Round 1 economic outcomes controlled. Moreover, Round 1 SV predicted the desire to negotiate again with the same counterpart, whereas objective negotiation performance had no such association. Taken together, these results suggest that positive feelings, not just positive outcomes, can evoke future economic success.

The Objective Value of Subjective Value- A Multi-round Negotiation Study

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