Cart (Loading....) | Create Account
Close category search window
 

Bilateral bargaining with multiple opportunities: knowing your opponent's bargaining position

Sign In

Cookies must be enabled to login.After enabling cookies , please use refresh or reload or ctrl+f5 on the browser for the login options.

Formats Non-Member Member
$31 $13
Learn how you can qualify for the best price for this item!
Become an IEEE Member or Subscribe to
IEEE Xplore for exclusive pricing!
close button

puzzle piece

IEEE membership options for an individual and IEEE Xplore subscriptions for an organization offer the most affordable access to essential journal articles, conference papers, standards, eBooks, and eLearning courses.

Learn more about:

IEEE membership

IEEE Xplore subscriptions

2 Author(s)
Gerding, E.H. ; CWI, Center for Math. & Comput. Sci., Amsterdam ; La Poutre, H.

Negotiations have been extensively studied theoretically throughout the years. A well-known bilateral approach is the ultimatum game, where two agents negotiate on how to split a surplus or a "dollar"-the proposer makes an offer and responder can choose to accept or reject. In this paper a natural extension of the ultimatum game is presented, in which both agents can negotiate with other opponents in case of a disagreement. This way the basics of a competitive market are modeled, where, for instance, a buyer can try several sellers before making a purchase decision. The game is investigated using an evolutionary simulation. The outcomes appear to depend largely on the information available to the agents. We find that if the agents' number of remaining bargaining opportunities is commonly known, the proposer has the advantage. If this information is held private, however, the responder can obtain a larger share of the surplus. For the first case we also provide a game-theoretic analysis and compare the outcome with evolutionary results. Furthermore, the effects of search costs, uncertainty about future opportunities, and allowing multiple issues to be negotiated simultaneously are investigated

Published in:

Systems, Man, and Cybernetics, Part C: Applications and Reviews, IEEE Transactions on  (Volume:36 ,  Issue: 1 )

Date of Publication:

Jan. 2006

Need Help?


IEEE Advancing Technology for Humanity About IEEE Xplore | Contact | Help | Terms of Use | Nondiscrimination Policy | Site Map | Privacy & Opting Out of Cookies

A not-for-profit organization, IEEE is the world's largest professional association for the advancement of technology.
© Copyright 2014 IEEE - All rights reserved. Use of this web site signifies your agreement to the terms and conditions.