Decision Dynamics, Persuasion and Negotiation.
TEXAS UNIV AT AUSTIN CENTER FOR CYBERNETIC STUDIES
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There are four elements in decision making the set of possible alternatives, the criteria for good decisions, the possible outcomes of each possible alternative in terms of the criteria and the preference for the outcomes in terms of the criteria. These four elements grow and vary with the time. The decision process stops when one or several alternatives are found to be optimal, satisfactory and the benefit of further search cannot justify the cost or pain of further search for information. This observation of decision dynamics makes it possible to capture the essence of complicated dynamic multicriteria decision making. It also supplies a framework to study the fascinating and mysterious concepts of persuasion and negotiation. Effective rules for persuasion and negotiation are discussed with examples. It is pointed out that the present for negotiation is quite different from that of classical game theory. In this setting, realistic negotiation or bargaining processes can be incorporated.
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