THE ART OF NEGOTIATION

The Scarcity Principle

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d e m o n s t r a t e d

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The paper of one student from Italy practically had tears on it, she was so happy.

She’d tried convincing her boyfriend to come visit her several times in the states.

That evening after Professor Bagwell's class, she tried once again and he still

hedged: it wasn’t the right time; it was too expensive; not just yet, etc. etc. So

she went on-line to research cheap airfares and then called him back using the

Scarcity Principle. She told him there was a cheap airfare that would expire in

just 2 hours and it was a rock bottom price. Since the Euro was at its all time

high against the dollar, it would never be any better than now and if he didn’t

book it, he’d lose out. She’d set the ticking clock in motion. And it worked. He

agreed to come visit. She was elated. The homework assignment made a huge

impact on her.