Dickering

Dickering Bargaining Negotiation Small-Scale Business Marketplaces
Petty bargaining often involving back-and-forth negotiation over minor details. Commonly used in contexts such as markets, street vendors, or small-scale business dealings.
On this page

Definition

Dickering refers to the act of engaging in petty bargaining, characterized by negotiation over minor details, frequently involving small sums or unimportant issues. This term captures the often tedious and drawn-out process of haggling where both parties try to inch closer to a mutually acceptable agreement.

Examples

  1. Marketplaces: A common scenario for dickering is in markets where shoppers haggled with vendors over the price of fruits and vegetables.
  2. Yard Sales: Buyers and sellers engage in dickering over the prices of second-hand goods.
  3. Street Vendors: Tourists often dicker with local vendors over souvenirs.

Frequently Asked Questions

1. Is dickering considered unprofessional in business?

  • It depends on the context. While petty bargaining may be seen as unprofessional in corporate settings, it is often an expected part of the process in street markets, yard sales, and some small businesses.

2. How does dickering differ from negotiation?

  • While negotiation can involve complex deals and significant amounts of money, dickering specifically refers to bargaining over trivial matters, often perceived as less serious or formal.

3. Can dickering lead to better deals?

  • Yes, dickering can lead to better deals for both parties if conducted effectively, especially in informal marketplaces where prices are not fixed.

Bargaining: The process of negotiating the terms of a deal, seeking a compromise or mutually acceptable agreement.

Haggling: Persistent bargaining, often seen in informal or marketplace scenarios, similar to dickering but can involve more substantial disputes.

Negotiation: A broader term for discussions aimed at reaching an agreement, can be formal or informal, and spans various areas including business, law, and diplomacy.

Bartering: Exchanging goods or services directly without using money; involves bargaining over the value of exchanged items.

Online References

Suggested Books for Further Studies

  1. “Getting to Yes: Negotiating Agreement Without Giving In” by Roger Fisher and William Ury
  2. “Negotiation Genius: How to Overcome Obstacles and Achieve Brilliant Results at the Bargaining Table and Beyond” by Deepak Malhotra and Max H. Bazerman
  3. “Bargaining for Advantage: Negotiation Strategies for Reasonable People” by G. Richard Shell

Fundamentals of Dickering: Negotiation Basics Quiz

### What does the term "dickering" primarily refer to? - [x] Petty bargaining over minor details. - [ ] A formal negotiation process. - [ ] Bartering goods without money. - [ ] Legal arbitration. > **Explanation:** "Dickering" refers to petty bargaining over minor details, often seen in informal business dealings such as markets or yard sales. ### In which environments is dickering most commonly seen? - [ ] Corporate boardrooms - [x] Marketplaces and street vendors - [ ] Online retail stores - [ ] Government offices > **Explanation:** Dickering is most commonly seen in marketplaces and among street vendors where prices are negotiable and customer interaction is expected. ### Is dickering usually formal or informal? - [ ] Formal - [x] Informal - [ ] Both formal and informal - [ ] Neither > **Explanation:** Dickering is an informal activity, typically involving small-scale or casual business transactions. ### What is a key characteristic of dickering? - [x] Negotiation over trivial matters - [ ] Large-scale financial agreements - [ ] The setting of fixed prices - [ ] Legal involvement > **Explanation:** A key characteristic of dickering is the negotiation over trivial matters, often involving small sums or negligible issues. ### How does haggling relate to dickering? - [ ] Haggling deals with formal negotiations. - [x] Haggling is similar to dickering, involving persistent petty bargaining. - [ ] Haggling requires legal arbitration. - [ ] Haggling does not involve bargaining at all. > **Explanation:** Haggling is similar to dickering in that both involve persistent petty bargaining over terms, often in informal settings. ### Why might someone engage in dickering? - [ ] To finalize a corporate merger - [ ] To set up a legal contract - [x] To secure a lower price on goods or services - [ ] To conduct formal business negotiations > **Explanation:** Someone might engage in dickering to secure a lower price on goods or services, especially in settings where prices are flexible. ### What makes dickering different from bartering? - [ ] Dickering uses goods exchange without money. - [ ] Bartering uses money for transactions. - [x] Dickering involves negotiating over prices, while bartering involves exchanging goods directly. - [ ] There is no difference; they mean the same. > **Explanation:** Dickering involves negotiating over prices using money, while bartering involves the direct exchange of goods or services without money. ### Can dickering be part of a broader negotiation? - [x] Yes, especially in informal settings. - [ ] No, it is only a separate activity. - [ ] Yes, but only in formal negotiations. - [ ] No, it is unrelated to negotiation. > **Explanation:** Dickering can be part of a broader negotiation, particularly in informal settings where back-and-forth bargaining over details is common. ### What might be a casual way to describe someone skilled at dickering? - [ ] An expert negotiator - [ ] A legal arbitrator - [x] A good haggler - [ ] A market analyst > **Explanation:** Someone skilled at dickering might casually be described as a good haggler, due to their ability to negotiate minor details effectively. ### Which book can help improve negotiation skills related to dickering? - [x] "Getting to Yes: Negotiating Agreement Without Giving In" by Roger Fisher and William Ury - [ ] "Financial Accounting" by Walter T. Harrison - [ ] "Principles of Microeconomics" by N. Gregory Mankiw - [ ] "Corporate Finance" by Jonathan Berk > **Explanation:** "Getting to Yes: Negotiating Agreement Without Giving In" by Roger Fisher and William Ury is an excellent resource to improve negotiation skills, relevant to both formal negotiations and informal dickering.

Thank you for diving into the nuance of dickering and testing your understanding with our quiz. Keep honing your bargaining skills!

Wednesday, August 7, 2024
Different Costs for Different Purposes
Diary
Bargaining January 1, 1
Negotiation January 1, 1

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.