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One Rules

 

Smartsettle One Competition (Ver esta página en español)

Rules and Strategy

 

Cases and Preference Information

Several types of Smartsettle One cases are available but not all of them may be available in the current competition. Each case represents a negotiation involving one numerical issue, where one party prefers high values and the other party prefers low values. 

Review the shared background information for the case that you will be playing. You must make an estimate of your walkaway, your opponent’s walkaway and a fair outcome. Based on these estimates you will start your negotiations by identifying values that would become your “INITIAL PROPOSAL” and “WALKAWAY” . There is no other explicitly assigned confidential information. 

Initial Proposal

Enter a value for your initial proposal that will be shown to your counterparty. Most negotiators set their initial proposal to a value that is better than they expect the outcome to be.

Walkaway

Make a realistic estimate of your walkaway. Your walkaway should be related to what you think would be fair and also what would happen if no agreement were reached with Smartsettle (e.g., in court). Consider also all the process costs of that alternative. Your counterparty will never see your walkaway setting.

Arbitration

If your counterparty is too unreasonable, an outcome can still be guaranteed if both parties agree to the arbitration fallback option provided in Final Session. At the end of the competition, Smartsettle will use the opinion of an “expert” to arbitrate the case, with favor given to the player who ends up closest to fair. If both parties agree to prepare for arbitration, you will not actually need to do that work in the competition. The costs of preparation are simulated by a penalty of 1% of your score in that case.

Scoring

You must complete at least two negotiations to be eligible for scoring. If there is only one case available, you must negotiate the same case again. Each time you negotiate, you will be paired with a different counterparty. In order to score well, you must reach agreement in more than half of your negotiations. Start as many negotiations as you like but be sure that you have time to finish them. When the competition closes, unfinished negotiations (past Session 1) will be automatically completed as if both parties declared "I'm Done" in Final Session. Your final score will be normalized between zero and 100 with a sophisticated formula based on the inputs of all players. Remember that Smartsettle rewards generosity. This is the expected behaviour of a professional who values relationships and appreciates the benefits of collaboration. 

Finishing

When you are finished your negotiations, we would appreciate your feedback in the post-negotiation questionnaire.

Thanks for playing. Enjoy the competition.