Two-Party Negotiation Modeling: An Integrated Fuzzy Logic Approach

Ayman M. Wasfy and Yasser A. Hosni
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Ayman M. Wasfy: University of Central Florida, P.
Yasser A. Hosni: University of Central Florida, P.

Group Decision and Negotiation, 1998, vol. 7, issue 6, No 3, 518 pages

Abstract: Abstract Game theoretic models attempted to predict unique equilibrium outcomes of negotiations with limited success. The imprecise character of negotiation is often altered to fit the game theorist's exacting approach. Alternative models deviated from the formal game theoretic approach and attempted to accommodate concepts such as negotiator power and time pressure. In this paper, we introduce a model which uses a fuzzy logic approach to deal with the imprecision in the negotiation process and to integrate several negotiation theories. The new model is used to simulate multiple-issue, two-party negotiations and results are consistent with established negotiation theories.

Keywords: negotiation analysis; two-party negotiations; negotiation simulation; fuzzy logic (search for similar items in EconPapers)
Date: 1998
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DOI: 10.1023/A:1008615011578

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