Home Resources Glossary Multivariate Blind Bidding
Multivariate Blind Bidding Print E-mail
(AKA Multi-issue Blind Bidding)

Multivariate blind bidding is a method of blind bidding that can be used by any number of negotiators in conflict over decisions to be made on any number of variables. In this method, what is blind to the negotiators is the confidential acceptance by any party of a suggestion, some other visible published package, or a hidden reflection. In the case of hidden Reflections, Smartsettle will first generate an equivalent package when parties accept packages that are close enough to each other. When applied to single variable cases, this method is superior to traditional blind bidding since no split-the-difference formula is necessary. Parties can see what they are agreeing to before it is declared a deal. (View demonstration at ADR Cyberweek 2001).
Last Updated ( Monday, 25 February 2008 20:39 )
 

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