People are not particularly fond of losing. Everyone really likes a success and it is important for us all to be on the winning side. In fact, it is essential for many people to be on the winning side that research tells us that typically we have a pretty an insightful method to handling the potential threats.

In an area of study referred to as Prospect Theory, Kahneman and Tversky investigated the likely anomalies and contradictions in individual attitude. They discovered that research subjects when presented an option introduced in one way might display cautious behaviour but when given fundamentally the same option formulated in a different way the same research subjects might exhibit risk seeking methods.

An important result of the research performed by Kahneman and Tversky is that they found that people's behaviour towards threats related to potential benefits are often very unlike their attitudes when it comes to risks associated with probable deficits.

For instance, when subjects are presented an option between getting $1000 with confidence or having a 50% chance for getting $2500, they may well select the guaranteed $1000 rather than the uncertain chance of getting $2500 even though the analytical expectation of the uncertain option is $2500. This is a completely sensible attitude that is referred to as risk aversion.

But Kahneman and Tversky also found that the same individuals when presented with a specific loss of $1000 versus a 50% possibility of no loss or a definite loss of $2500 do usually choose the risky option. This is called risk seeking behaviour.

Exactly what it implies for you in terms of your business negotiation or negotiation training is that it is really recommended that you show your counterparts what they bear to lose when they do not move the way that you are recommending. It is always best if you notify your counterparts the things they stand to gain by shifting in your direction but the strength of your stance will likely be improved if you could add to the advantages the particular things that they are going to lose out on if they do not shift in your direction.

This kind of loss framing is strongest when it is coupled with the Scarcity principle of influence that states that we assign much more value to those things which are less obtainable. We should thereby concentrate on those things that are uniquely relevant to our own suggestions and in addition to pointing out the advantages associated with moving in our direction we should always also point out the particular, unique things that our counterpart may stand to forfeit if they do not move in our direction.

Making use of negotiation skills such as loss framing to your benefit is one way which you could use the concept of losing to support you to succeed.

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