84% Negotiation Settlement rate at Cyberweek 2011

More than 100 attendees at Cyberweek 2011 from Canada, China and the USA participated in a Smartsettle One competition in which they played either Buyer or Seller in a simulated negotiation of an item originally offered for $100. Most of the players qualified for scoring by successfully completing at least two negotiations each. Of 312 completed cases, 84% came to a negotiated agreement on their own. A few cases were arbitrated using Dampened Pendulum Arbitration, increasing the total settlement rate to 93%. Details of the contest are appended at the bottom of this article.Cyberweek 2011 Smartsettle One Competition StatisticsTotal players109Players completing at least two negotiations87Average completed negotiations per player5.6Negotiated agreements262Arbitrated agreements27Cases with no agreement23Total Completed Cases<312Negotiated Settlement rate84%*Overall settlement rate93%*

The top performers were students at Nanchang University, Washington University School of Law and South Texas College of Law.Smartsettle One Competition Top PerformersRankPlayerCoach/Organization1si hui zhaoProfessor Michael Fang, Nanchang University, China2亚西 冯Professor Michael Fang, Nanchang University, China3Katie HellmannProf C. J. Larkin, Washington University School of Law4伟婷 龚Professor Michael Fang, Nanchang University, China5Zachary HueyProf C. J. Larkin, Washington University School of Law6罗裕珍 罗Professor Michael Fang, Nanchang University, China7静 何Professor Michael Fang, Nanchang University, China8Mark SchaferProf C. J. Larkin, Washington University School of Law9Joel BalderasProfessor Bruce Wettman, South Texas College of Law10Mingjing DuProfessor Michael Fang, Nanchang University, China

Details of the Cyberweek 2011 Smartsettle One Competition

Cyberweek 2011 and The International eNegotiation Exhibition hosted a Smartsettle One Competition in which participants were engaged in simulated negotiations. Each negotiation was about the online purchase or sale of an item advertised for $100. This was an opportunity for a hands-on encounter with the latest eNegotiation technology designed for simple single-issue cases. Players experienced how Visual Blind Bidding and algorithms that reward collaboration and good negotiating behaviour virtually eliminate the tedious negotiation dance that characterizes ordinary negotiations.

Case description

Seller has advertised an item for sale online for $100 yesterday. Seller may be willing to compromise on the basis of his or her knowledge about similar items for sale. Buyer is looking for an item just like this but is determined not to pay more than what it is worth because there are also similar items for sale that he or she could buy.

Private information (example of what appeared in the competition)

Today you found a similar item advertised for $______ that appears to be two year(s) older.

How the Competition Works

  1. Buyer and Seller roles are assigned alternately as players arrive.

  2. Players do not know the real identity of the other party.

  3. Players visit their cases several times if they don’t settle in Session 1.

  4. Each visit takes only a few minutes.

  5. Each negotiator completes at least two negotiations to be eligible for scoring if he or she wish to be recognized in the Top Standings.

  6. Players have fun negotiating as many cases as they wish.

  7. Read the rules in detail.

Training

  1. Watch the video to see How Smartsettle One Works.

  2. Remember that agreement is guaranteed if negotiators agree to the arbitration option in Final Session.

  3. After you finish the competition, just say, “That was easy” and you’re ready for Smartsettle Infinity.

All are welcome.

For more information contact us today.

Development of Smartsettle One has been sponsored in part by the

National Research Council of Canada

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