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Generally, Smartsettle is an online negotiation support system (eNegotiation System) designed to put any number of decision makers with conflicting objectives in control of a process that produces a timely outcome without leaving value on the table. We have two products, Smartsettle One and Smartsettle Infinity. Smartsettle One, is optimized for simple negotiations between two parties that can be boiled down to a single numerical issue. Try out Smartsettle One with practice cases at the International eNegotiation Exhibition or use it for your live case here right now (free for a limited time). If you would like a facilitator or mediator, we are standing by ready to help you.
At the other end of the spectrum is our flagship product, Smartsettle Infinity, which can be applied to almost any negotiation you can imagine between any number of parties and any number of quantitative and qualitative issues. The powerful artificial intelligence of Infinity resides on the Internet at a safe and secure neutral site. Both Smartsettle One and Infinity use an algorithm called Visual Blind Bidding that virtually eliminates the negotiation dance that characterizes ordinary negotiations. Infinity also uses another optimization algorithm to “maximize the minimum gain” to ensure that no hidden value remains on the table. Dr. Ernest Thiessen’s research predicted 16% better results in a certain class of two-party problems. Our real-world experience is starting to produce results that confirm those predictions and we would like to demonstrate that to you too.
Brief Background and History
Clip from A Beautiful Mind (depicts John Nash’s eureka moment (although the analogy is poor)) (4 min)
Orange Quarrel (Thiessen compared to Nash) (9 min)
Bridging the Gap (article reviewing Smartsettle/s water roots and ambitions)
Latest book on ODR (includes a chapter on Smartsettle in which we detail a case study with a context similar to the Tigris-Euphrates watershed)
Smartsettle has been in development for over two decades and is based on Dr. Ernest Thiessen‘s research at Cornell University, which was published in 1992. Smartsettle One is currently being applied to simple cases like debt resolution and small claims and Smartsettle Infinity is being applied to more complex problems. Smartsettle Family Resolutions Inc. uses Infinity for Family conflicts, which has been a good testing ground while Infinity has still been in development. Infinity has been applied to countless simulations of all types and is now starting to be applied to larger cases like supply agreements, mergers and acquisitions, labour management, and water treaties. There is still work to do to automate some advanced features like coalition and arbitration functions but it is very good at supporting many types of conflict resolution.
Summary of how Smartsettle works
The process starts with all parties agreeing to collaborate and be led by the Smartsettle process. Parties may be trained to use the system themselves or engage one or more skilled facilitators. A human mediator is optional because the Smartsettle system itself provides mediation functions. Before the negotiation problem can be modeled, the parties must create a Single Negotiating Framework, which is like a Final Agreement, except for blanks that represent unresolved issues. After the Framework is accepted by all parties, complete with negotiating ranges for all the issues, the next step is to model the problem within the Smartsettle interface. Through a process of preference elicitation, Smartsettle learns how each party becomes satisfied on each of the issues. Smartsettle is then able to help them create and rate packages and exchange proposals. Smartsettle can also generate suggestions. Most often it is one of Smartsettle’s suggestions that becomes the final agreement. If all else fails, and agreement can be guaranteed if parties agree to Smartsettle’s Expert Neutral Dealcloser.
Smartsettle One to Infinity coming soon
In development is a new product (code named “Smartsettle One to Infinity”) that will replace both existing products. It will be as easy to use as Smartsettle One and as powerful as Infinity. Watch out for our debut in your home town. Or invite us to come over if you don’t see us soon.
To learn more:
Visit the Home page of iCan Systems Inc., the Smartsettle parent company.
Visit the Home page of Smartsettle Family Resolutions Inc.
Visit the Home page of Summit Negotiations Society.