Strategies for agent-based negotiation in e-trade

Al-Jaljouli, Raja and Abawajy, Jemal 2012, Strategies for agent-based negotiation in e-trade, in Network and traffic engineering in emerging distributed computing applications, Information Science Reference, Hershey, Pa., pp.43-65.

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Title Strategies for agent-based negotiation in e-trade
Author(s) Al-Jaljouli, Raja
Abawajy, Jemal
Title of book Network and traffic engineering in emerging distributed computing applications
Editor(s) Abawajy, Jemal
Pathan, Mukaddim
Rahman, Mustafizur
Pathan, Al-Sakib Khan
Deris, Mustafa Mat
Publication date 2012
Chapter number 3
Total chapters 12
Start page 43
End page 65
Total pages 23
Publisher Information Science Reference
Place of Publication Hershey, Pa.
Keyword(s) negotiations
e-trade
Summary £-negotiation handles negotiation over the Internet without human supervision and has shown effectiveness in concluding verifiable and more favorable agreements in a reasonably short time. In this chapter, the authors discuss the negotiation 5ystem and its components with particular emphasis on negotiation strategies. A negotiation strategy defines strategic tactics, which advise on the proper action to select from a set of possible actions that optimizes negotiation outcomes. A strategy should integrate negotiation goals and reactive attitudes. Usually, a fixed strategy is implemented during the course of negotiation regardless ofsignificant decision-makingfactors including market status, opponent :S profile, or eagerness for a negotiated goods/service. The chapter presents the main negotiation strategies and outlines the different decision-makingfactors that should be considered. A strategy uses a utility function to evaluate the offer of an opponent and advises on the generation of a counter offer or the best interaction. The authors finally discuss different utility functions presented in the literature.
ISBN 1466618892
9781466618893
Language eng
Field of Research 080501 Distributed and Grid Systems
Socio Economic Objective 890103 Mobile Data Networks and Services
HERDC Research category B1 Book chapter
Copyright notice ©2012, Information Science Reference
Persistent URL http://hdl.handle.net/10536/DRO/DU:30049548

Document type: Book Chapter
Collection: School of Information Technology
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