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Preliminary analysis on international business negotiation strategy in a game with incomplete information

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1 Author(s)
Dong Wei ; Basic Teaching Dept., Shenyang Inst. of Eng. Shenyang, Shenyang, China

Negotiation is in practice a variable, dynamic, repetitive game with incomplete information. The game theory is a study of the decision process under the influence of people's interactive behavior and their interdependent existence. Therefore, it has profound impacts on negotiations. Information is the power. The more information you obtain, the easier it will be for you to make a good guess of your opponent's BATNA. as well as their weakness and desires. One shall have adequate preparation and reasonable planning before the negotiations start, steer to a clear target with responsiveness, flexibility and initiatives in the process of negotiations, apply the ideas and methods of the game theory to gain the most favorable conditions, and avoid trade risk (i.e. risks associated with the delivery, payment, transportation, insurance, etc.) as much as possible to achieve the best outcome and benefits.

Published in:

Information Management and Engineering (ICIME), 2010 The 2nd IEEE International Conference on

Date of Conference:

16-18 April 2010