TY - GEN
T1 - The value of information in negotiations with incomplete information
AU - Dor-Shifer, Daphna
AU - Azoulay-Schwartz, Rina
AU - Kraus, Sarit
PY - 2006
Y1 - 2006
N2 - The paper considers bilateral negotiations between a buyer agent and a seller agent, where incomplete information exists on the reservation price of both agents. We analyzed a symmetrical negotiation model in which delay is the only signalling device. We determined the price an agent will be willing to pay for information on the other agent's reservation price at the beginning of the negotiation process in different situations. We also examined whether the purchase of such information was at all useful in two cases: either when both agents buy information on each other (simultaneously, or in a consecutive manner), or when the information is only available to one of the agents. We observed the effects of various parameters on the value of information and on the final outcome of the negotiation.
AB - The paper considers bilateral negotiations between a buyer agent and a seller agent, where incomplete information exists on the reservation price of both agents. We analyzed a symmetrical negotiation model in which delay is the only signalling device. We determined the price an agent will be willing to pay for information on the other agent's reservation price at the beginning of the negotiation process in different situations. We also examined whether the purchase of such information was at all useful in two cases: either when both agents buy information on each other (simultaneously, or in a consecutive manner), or when the information is only available to one of the agents. We observed the effects of various parameters on the value of information and on the final outcome of the negotiation.
KW - Intelligent agents and mobile agents
UR - http://www.scopus.com/inward/record.url?scp=47849085382&partnerID=8YFLogxK
U2 - 10.1109/itre.2006.381581
DO - 10.1109/itre.2006.381581
M3 - ???researchoutput.researchoutputtypes.contributiontobookanthology.conference???
AN - SCOPUS:47849085382
SN - 1424408598
SN - 9781424408597
T3 - ITRE 2006 - 4th International Conference on Information Technology: Research and Education, Proceedings
SP - 271
EP - 276
BT - ITRE 2006 - 4th International Conference on Information Technology
PB - IEEE Computer Society
T2 - ITRE 2006 - 4th International Conference on Information Technology: Research and Education
Y2 - 17 October 2006 through 18 October 2006
ER -