A rationale based on adaptive learning is used to explain inefficient bargaining under private information. A dynamic bargaining model using genetic algorithms is developed in which independent but interacting negotiators coevolve their offers. A computer simulation analysis is conducted that...

This paper investigates strategies for value creation of e-commerce companies. Our main assumption is that e-commerce fundamentally affects the way business is conducted across many industries. To support this insight, we discuss the unique characteristics of 'virtual markets' brought on by the...