Open AccessINTELCITY AND MULTIPLE CRITERIA WEB-BASED NEGOTIATION DECISION SUPPORT SYSTEM FOR REAL ESTATE
Author(s) -
Artûras Kaklauskas,
Vita Urbanavičienė
Publication year - 2005
Publication title -
technological and economic development of economy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.634
H-Index - 47
eISSN - 2029-4921
pISSN - 2029-4913
DOI - 10.3846/13928619.2005.9637697
Subject(s) - negotiation , real estate , computer science , knowledge management , decision support system , operations research , management science , business , economics , finance , engineering , data mining , political science , law
The authors of this paper together with the other VGTU scientists participate in the international project INTELCITIES and present Multiple Criteria Web‐Based Negotiation Decision Support System for Real Estate (NDSSRE). INTELCITIES project is a research and development project that aims to pool advanced knowledge and experience of e‐government, planing systems and citizen participation. NDSS‐RE includes a decision support tool based on the methods of alternative generation and multiple criteria analysis that enable negotiating parties to evaluate their systems of preferences and recognize opportunities for trade‐off between differently valued objectives and joint gains. At present the developed NDSS‐RE allows for the performance of the following functions: search for real estate alternatives; finding out alternatives and making an initial negotiation table; multiple criteria analyses of alternatives; negotiation based on real calculations; determination of the most rational real estate purchase variant on the ground of characteristics describing effectiveness of the analysed alternatives. The third part of the paper deals with traditional negotiation principles and describes negotiation tactics, such as “The Atractive Alternative”, “The Stall and Jolt”, “The Comparative Value”, “The Third Party”, “The No More Money” and “The Walk Away” tactics. More traditional negotiation principles and tactics have been planned to integrate in future concerning the described NDSS‐RE system because the knowledge and implementation of all the above mentioned tactics and principles lead to more successful negotiation for the lowest possible price buying real estate.