Integrating Confidence in Electronic Negotiations: Perspectives from an Empirical Investigation

Strategies play an important role in every aspect of e-commerce. In negotiation, strategies determine the winners and losers in any scenario. The strategies employed in any scenario depend on the objective of the task, the environment in which the negotiation takes place and the nature of individual. The nature of the individual encompasses their cognitive and social abilities. One of such innate abilities is confidence. In this paper, we examine the impact of confidence on negotiation strategies. A simulation of a face-to-face negotiation experiment was carried out to determine the negotiation patterns of self confident people. The results of our analysis showed that highly confident people had significantly better results on negotiation tasks than people with lower confidence levels. This paper details the strategies used by confident people