Abstract
This paper details a feasible negotiation strategy to allow agents to make constructive agreements using a reasonable positive intension approach. If an agent receives a guaranteed payoff of at least the maximum of a minimum amount, then there is a possibility to bind the agreement. If agents adopt a maximin/minimax strategy to bind agreements, then the rate of negotiation will increase to both sides satisfaction. The negotiation mechanism using game theory is analysed with the concept of Nash equilibrium and a maximin/minimax strategy. The result provides a theoretical solution, and if agents adopt this strategy in a negotiation mechanism then the agreement binding rate among agents can be enhanced.
| Original language | English |
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| Title of host publication | Internet & Information Systems in the Digital Age: Challenges & Solutions. Proceedings of the 7th International Business Information Management Association (IBIMA) Conference, 14-16 December 2006, Brescia, Italy |
| Publisher | IBIMA |
| Number of pages | 10 |
| ISBN (Print) | 0975339362 |
| Publication status | Published - 2006 |
| Event | International Business Information Management Association - Duration: 23 Jun 2010 → … |
Conference
| Conference | International Business Information Management Association |
|---|---|
| Period | 23/06/10 → … |
Keywords
- negotiation
- contracts
- commercial agents
- agreement binding rate
- game theory
- strategy