Protocols for Negotiation in literature  

•      Negotiation in E-Business

•    Software agents exist that exchange opinions on stock and also bid and trade them

•    Most thoroughly researched auction model is Symmetric Independent Private Values

                model

            Key Idea:        

        All negotiation participants are symmetric/indistinguishable, have private evaluations

        of good, which is independent and identically distributed, and risk-neutral

        For instance, negotiation of a piece of art for purely purposes of enjoyment

        It has been shown that all negotiations under this class produce equivalent results in terms

        of payoffs for participants

•    Another variant is the Common Value Model, wherein the price that each agent places on a

                bid is determined, besides the privately evaluated value, by the opinions of other bidders

        as well as the resale value

            Key Idea:        

        In terms of the Common Value Model, it is in the best interest of each negotiating agent to

        shade their bids since it has been observed that the auction always selects the winning

        bidder as the one who received the most optimistic estimate of the items' value