Word: raiffa
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Dates: during 1970-1979
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...Wall Street Journal began it all innocuously enough with a front-page article last month titled, "To Some at Harvard, Telling Lies Becomes a Matter of Course." The story was about a fall-term Business School class on "Competitive Decision Making" taught by Howard Raiffa, Ramsay Professor of Managerial Economics. William M. Bulkeley, a 28-year-old writer who recently moved to Boston after six years with the Journal, knew someone who had taken Raiffa's course, and thought it might make a good subject for an article...
Like many Harvard-related stories, the article on Raiffa's course intrigued much of the news media, and soon The Boston Globe, Newsweek, the Chicago Sun-Times, The Detroit News, the wire services, and other newspapers and business publications picked up on the story. Why all the fuss? Raiffa's course pairs students off and places them into actual negotiating situations, where they use and analyze real bargaining techniques. One of these techniques--the one emphasized in the Journal article--is known as "strategic misrepresentation," or more simply, lying...
...When we say strategic misrepresentation, we're not talking about a person who, when trying to sell a used car, will set back the odometer," Raiffa wrote in this month's Harvard Business School Bulletin. "That sort of scurrilous behavior would not be condoned by me or by any of my students. We are talking about the grayer area where the seller of the car would be willing to sell at $500 but says he would not be willing to take a cent less than...