Open AccessAN EXPERIMENTAL STUDY OF COMPUTER-BASED NEGOTIATION IN PROPERTY DEVELOPMENT PROCESSES
Author(s) -
D. Ary A. Samsura,
Adrian Van Deemen,
Erwin van der Krabben,
Rob van der Heijden
Publication year - 2014
Publication title -
international journal of strategic property management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.43
H-Index - 30
eISSN - 1648-9179
pISSN - 1648-715X
DOI - 10.3846/1648715x.2014.970597
Subject(s) - negotiation , context (archaeology) , property (philosophy) , computer science , outcome (game theory) , complete information , value (mathematics) , microeconomics , knowledge management , economics , political science , paleontology , philosophy , epistemology , machine learning , law , biology
This paper reports an experiment based on the model of bilateral sequential bargaining over the distribution of a certain value in a laboratory setting within a real specific context of property development in the Netherlands. We have involved only property development professionals as participants in the experiment who have experience with the context. We have also extended the experiment into three different negotiation games distinguished by the availability of information to the participants: a negotiation game with incomplete information, asymmetric information, and complete information. We have found in this experiment that the availability of information could affect the plausibility to reach an agreement, particularly due to a restricted communication setting. This study also provides evidences that it is in the negotiators’ concern to reach an agreement with a fair outcome, which is defined here as the equilibrium, regardless the availability of the information to them.