Final answer:
The statement in question is false. Adequate information is essential for effective negotiations and for buyers and sellers to come to a win-win decision. Imperfect or limited information can lead to regretted purchases or avoidance of future transactions.
Step-by-step explanation:
The statement that 'the less information collected about what a buyer hopes to accomplish, the better negotiators will be able to arrive at a win-win decision' is false. For a market to reach equilibrium, both sellers and buyers must have full information about a product's price and quality. When information is imperfect or limited, it can lead to difficulties in reaching an agreement on price because each party may have different expectations or valuations based on the information they have. This can result in transactions not occurring or poor decision-making.
Every purchase is based on the buyer’s belief about the satisfaction the product or service will offer, which is informed by the available information. If this information is imperfect or unclear, it may cause buyers to regret past purchases and avoid future ones, indicating the importance of clear and comprehensive information for both parties in negotiation. Therefore, collecting adequate information about a buyer's objectives is crucial for effective negotiation and achieving mutually beneficial outcomes.