Electronic Negotiations

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Identification

This is a process tactic used to reduce transaction cost and automate needs and wants. Machine learning and artificial intelligence now conduct much of our negotiations.

Example

This is seen when there is use of electronic, possibly fully autonomous, negotiation engines, such as trading algorithms on stock exchanges. It also applies to semi-automated systems, such as auction sites.

Solution

The issue with these is the algorithm that stands between the negotiators. Without knowledge of the so-called “ethics engines,” the fairness of these engines is up to the creator or consortia. These systems may create volatility and errors that may not be a result of errors per se, but of system complexity.How do we even hope to deal with tactics such as “use our online interface”? You should at least know how these systems work, and there are many excellent texts on the topic[i]. Financial markets and ecommerce systems are examples, but at the end of the day, humans must ultimately deliver, as we have not yet taken the consumer care portion out of human reach.Given an electronic environment, you must get intelligence on the algorithm, the market set-up, and how to optimize your goal. If the interface does not meet your needs, you must also talk to people who push the buttons or ask if there is an alternate option –as a result of the Americans with Disabilities Act in America and similar legislation in various nations, alternatives often exist for large corporations or anything government-run. If you encounter problems with the interface, the closer you can get to a human the better. Email, live chat, and phone are methods where a human is involved.

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