1. Application of Prospect Theory

a. Anchor on emotion

• Set up the other party in a frame of certain or higher than expected loss

b. Let the other party open

• Beware of "anchor and adjust" with an expert
• Can open if you have asymmetric information

c. Use a range

• Bolstering range allows you to get the bottom (framing effect) and you're better off

d. Use exact numbers, not rounded to reflect thoughtful calculation

e. Throw in gift

• Throw in something of little cost to you but high perceived value to other party

2. Open calibrated questions

• Begin with "How" and "What"
• Gives the counterparty the illusion of control
• Use "Why" sparingly unless framed in a negative (otherwise creates a defensive mindset)

3. 7-38-55 theory

Our impression of someone is based on

Message - 7%

Tone - 38%

Body language - 55%