The pursuit of missing information in negotiation

A large body of research has focused on how people exchange and use information during the negotiation process. This work tends to treat information as if it all were readily available upon request. The current research investigated how delays in the pursuit of missing information can influence people’s ex-ante priorities and the final settlements they reach. Study 1 found that negotiators achieved more value on an issue after seeking missing information about that issue compared to when the same information was readily accessible. Study 2 found that the effect of searching for information on outcomes was mediated by changes in how important negotiators perceived the issue to be. Theoretical and practical implications are discussed.

► Two experiments test whether information search affects negotiation.
► Searching for missing information increased value achieved.
► Searching for information increases subjective importance of the issue.