Knowledge of precise offers as a negotiating tactic does not reduce its effect on counteroffers

Past research has demonstrated that precise first offers (e.g., 4,983) serve as an anchor in negotiations and reduce counteroffers relative to round first offers (e.g., ,000). Precise offers are frequently perceived as indicating greater competence and knowledge of the person making the offer. Three studies were conducted to determine if knowledge of precise offers as a negotiating tactic would reduce the effect of precision on counteroffers....