Two people are in the process of estimating probabilities for each of their identified risks. Which step of risk management is this?

A buyer makes and signs a written offer. The seller writes in one small change to the offer and signs it. This document is known as:

A. an addendum B. an amendment C. a modification D. a counteroffer

Negotiators can focus on gains or losses during a negotiation. Most negotiators are ________

when it comes to losses, and ________ when it comes to gains. A) rational; irrational B) irrational; rational C) risk-averse; risk-seeking D) risk-seeking; risk-averse