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Mining trading partners’ preferences for efficient multi-issue bargaining in E‑business

Lau, Raymond Y.K., Wong, On, Li, Yuefeng, & Ma, Louis C.K. (2008) Mining trading partners’ preferences for efficient multi-issue bargaining in E‑business. Journal of Management Information Systems, 25(1), pp. 79-103.

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Abstract

Classical negotiation models are weak in supporting real-world business negotiations because these models often assume that the preference information of each negotiator is made public. Although parametric learning methods have been proposed for acquiring the preference information of negotiation opponents, these methods suffer from the strong assumptions about the specific utility function and negotiation mechanism employed by the opponents. Consequently, it is difficult to apply these learning methods to the heterogeneous negotiation agents participating in e‑marketplaces. This paper illustrates the design, development, and evaluation of a nonparametric negotiation knowledge discovery method which is underpinned by the well-known Bayesian learning paradigm. According to our empirical testing, the novel knowledge discovery method can speed up the negotiation processes while maintaining negotiation effectiveness. To the best of our knowledge, this is the first nonparametric negotiation knowledge discovery method developed and evaluated in the context of multi-issue bargaining over e‑marketplaces.

Impact and interest:

7 citations in Scopus
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2 citations in Web of Science®

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90 since deposited on 07 Dec 2009
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ID Code: 29073
Item Type: Journal Article
Additional URLs:
Keywords: Bayesian learning, e‑business, knowledge discovery, multi-issue bargaining, negotiation
ISSN: 0742-1222
Subjects: Australian and New Zealand Standard Research Classification > INFORMATION AND COMPUTING SCIENCES (080000) > INFORMATION SYSTEMS (080600) > Information Systems Management (080609)
Divisions: Past > QUT Faculties & Divisions > Faculty of Science and Technology
Past > Institutes > Institute for Creative Industries and Innovation
Past > Schools > School of Information Technology
Past > Schools > School of Information Systems
Deposited On: 07 Dec 2009 10:09
Last Modified: 29 Feb 2012 23:47

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