Final answer:
Building trust in negotiations can be achieved by telling the truth, respecting confidences, providing extensive documentation, and sometimes sharing potentially threatening information if it establishes credibility. Sellers of goods and labor can offer detailed product or personal descriptions, guarantees, track records, references, and engaging narratives to reassure the other party amid imperfect information.
Step-by-step explanation:
In negotiations, building trust is fundamental, and certain techniques can enhance or diminish trustworthiness. One effective technique is to tell the truth and respect confidences, which directly contributes to building a reputation of reliability and integrity. Providing a lot of documentation can also support claims and demonstrate transparency, which bolsters trust. While not all information may seem beneficial to share, revealing information that may be threatening can sometimes establish credibility, as it shows a willingness to be open and vulnerable. However, this must be done carefully to avoid unnecessary alarm or compromising a negotiating position.
A seller of goods can reassure a buyer with imperfect information by providing clear and detailed product descriptions, offering guarantees or warranties, demonstrating the product's track record of success or customer satisfaction, and being willing to answer questions thoroughly. Sellers of labor, or job-seekers, might present a strong resume, references, or work samples to offer reassurance about their qualifications and fit for a position. For both sellers of goods and labor, offering background information and using narrative techniques can help bridge the gap created by imperfect information.