Advertisement

Strategic Points to Minimize Time Cost for Decision Making under Asynchronous Time Constraints

  • Hideyasu Sasaki
Part of the Lecture Notes in Computer Science book series (LNCS, volume 6724)

Abstract

The continued growth in Web-based services supporting time-critical decision making in such as e-auction, e-bidding, e-democracy, e-negotiation demands an effective way to manage time constraints. In this study, we discuss a theory on a decision making process under time constraints which are uncommon among two decision makers. The problem on a time constraint is to evaluate time cost or the value of the entire duration of a decision making process. We define time cost by introduction of opportunity cost to its evaluation. We then propose three sets of strategic points to minimize time cost for two decision makers under uncommon time constraints. With those strategic points, decision makers accelerate time-critical decision making by 1.5 times rather than a generally accepted heuristic point of half the entire time of a decision making process.

Keywords

Decision Maker Time Constraint Opportunity Cost Half Time Entire Duration 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. 1.
    Ba, S., Whinston, A.B., Zhang, H.: The dynamics of the electronic market: An evolutionary game approach. Information Systems Frontiers 2(1), 31–40 (2000)CrossRefGoogle Scholar
  2. 2.
    Berne, E.: Games people play: The psychology of human relationships. Grove, New York (1964)Google Scholar
  3. 3.
    Bichler, M.: Trading financial derivatives on the Web: An approach towards automating negotiations on OTCmarkets. Information Systems Frontiers 1(4), 401–414 (2000)CrossRefGoogle Scholar
  4. 4.
    Chen, J.H., Chao, K.M., Godwin, N., Soo, V.W.: Combining cooperative and non-cooperative automated negotiations. Information Systems Frontiers 7(4/5), 391–404 (2005)CrossRefGoogle Scholar
  5. 5.
    Dror, I.E., Busemeyer, J.R., Basola, B.: Decision making under time pressure: An independent test of sequential sampling models. Memory & Cognition 27(4), 713–725 (1999)CrossRefGoogle Scholar
  6. 6.
    Goeree, J.K., Holt, C.A., Palfrey, T.R.: Risk averse behavior in asymmetric matching pennies games. Games and Economic Behavior 45(1), 97–113 (2003)CrossRefzbMATHMathSciNetGoogle Scholar
  7. 7.
    Greenstein, S.: The commercialization of information infrastructure as technological mediation: The Internet access market. Information Systems Frontiers 1(4), 329–348 (2000)CrossRefGoogle Scholar
  8. 8.
    Kriesberg, L.: Timing and the initiation of de-escalation moves. Negotiation Journal 3(4), 375–384 (2007)CrossRefGoogle Scholar
  9. 9.
    Olson, D.L.: Rationality in information systems support to decision making. Information Systems Frontiers 3(2), 239–248 (2001)CrossRefGoogle Scholar
  10. 10.
    Osei-Bryson, K.M., Ngwenyama, O.: Decision models for information systems management. Information Systems Frontiers 10(3), 277–279 (2008)CrossRefGoogle Scholar
  11. 11.
    Payne, J.W., Bettman, J.R., Luce, M.F.: When time is money: Decision behavior under opportunity cost time pressure. Organizational, Behavior and Human Decision Process 66, 131–152 (1996)CrossRefGoogle Scholar
  12. 12.
    Russell, S., Wefald, E.: On optimal game-tree search using rational meta-reasoning. In: Proceedings of 11th Joint Conference on Artificial Intelligence, pp. 334–340. Morgan Kaufmann, San Francisco (1989)Google Scholar
  13. 13.
    Sasaki, H.: Strategic decision making on group collaboration under temporary constraints. In: Proceedings of the Fifth IEEE/ACM International Conference on Soft Computing as Transdisciplinary Science and Technology (CSTST 2008), pp. 343–349. ACM Press, New York (2008)CrossRefGoogle Scholar
  14. 14.
    Sasaki, H.: A computing theory for collaborative and transparent decision making under time constraint. Information Systems Frontiers (in press)Google Scholar
  15. 15.
    Sasaki, H.: Decision making under time constraint: From heuristics to strategy. In: Proceedings of the IEEE International Conference on Systems, Man, and Cybernetics (SMC 2010). IEEE Computer Society Press, Silver Spring (2010) (to appear)Google Scholar
  16. 16.
    Sasaki, H.: A study on strategic points for decision making under time constraint. In: Proceedings of the 5th International Conference on P2P, Parallel, Grid, Cloud and Internet Computing. IEEE Computer Society Press, Silver Spring (to appear)Google Scholar
  17. 17.
    Sutton, R.S., Barto, A.G.: Reinforcement learning: An introduction. MIT Press, Cambridge (1998)Google Scholar
  18. 18.
    Szirbik, N.: A negotiation enabling agent based infrastructure: Composition and behavior. Information Systems Frontiers 4(1), 85–99 (2002)CrossRefGoogle Scholar

Copyright information

© Springer-Verlag Berlin Heidelberg 2011

Authors and Affiliations

  • Hideyasu Sasaki
    • 1
    • 2
  1. 1.Ritsumeikan University, Department of Information Science and EngineeringJapan
  2. 2.Keio University, Keio Research Institute at SFCKusatsuJapan

Personalised recommendations