Asia pacific journal of information systems

The Korea Society of Management Information Systems (한국경영정보학회)
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The Study of Reserve Price Reporting Mechanisms: A New Mechanism for Negotiation Support Systems

유보가격 보고 메커니즘을 이용한 협상거래 지원시스템 효율 증대 방안 연구

  • 샹웨이 (하얼삔 과학기술대학교 경영대학) ;
  • 권성우 (고려대학교 경영대학) ;
  • 리이준 (하얼삔 과학기술대학교 경영대학) ;
  • 유병준 (고려대학교 경영대학)
  • Published : 2007.03.31
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Abstract

Information and Communication Technologies (ICT) changed our everyday business drastically. Business routines have been transformed to online activities. New theories and models were developed for the brand new online environment. For online negotiations, however, the research on new mechanisms is not enough, especially for bilateral distributive negotiations. A reserve price reporting mechanism (RPR) together with its extended version (ERPR) is proposed in this paper. The key improvement of reserve price reporting mechanisms is to let the negotiators report their reserve price to a third-party system before they actually start the negotiation. A prototype of this RPR system is developed and a lab experiment is conducted to test the performance of the two mechanisms compared with traditional direct bargaining (TDB) mechanism. The results of the experiment support that the reserve price report mechanisms proposed are more efficient than the traditional one in several dimensions including social welfare.

Keywords

References

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