Abstract:

Almost all businesses are involved in complex business processes including negotiation. The negotiation process is the most complicated issue in an electronic environment considering there is limited time to make a binding agreement. In the real world some time is needed to make the right decision to enter into a negotiation process and move towards a binding agreement. We assume that if we give some time to think about the negotiation process that will involve offers and counter-offers, then it will be easier to make the agreement binding. This paper proposes an
iterated negotiation protocol and an extended and flexible iterated negotiation process in electronic environments, which will enable business processes to be easier and save time. This iterated negotiation will attract business organizations to enter into electronic negotiation processes. Finally, we think this extended flexible process will enhance the agreement-binding rate in a negotiation situation.