Buffer

“Zeal without knowledge is the sister of folly.” — Sir John Davies, Elizabethan poet and lawyer and former attorney general of Ireland

Key Ideas:

• A Buffer is a third party empowered to negotiate on your behalf. Agents, attorneys, etc. are all examples of Buffers.
• Depending on the agreement, your Buffer’s priorities may be very different from your own. Be mindful of Incentive-Caused Bias.
• If possible, work with a Buffer who is willing to accept a flat fee. Their interests will be more aligned with yours when they are paid no matter what happens.
• Don’t let your buffer replace your own judgment. Don’t give total control of your decisions or resources to your Buffer.

Questions for Consideration:

• Does this negotiation situation call for a buffer?
• If so, is your buffer’s incentives closely aligned with your own?