Automated game approach to wage negotiation and decision problems

Festus Oluseyi Oderanti, Philippe De Wilde

Research output: Chapter in Book/Report/Conference proceedingConference contribution

2 Citations (Scopus)

Abstract

We proposed a profit sharing strategic game approach to wage negotiation and decision problems in business organisations. In the scheme, both the employer and the union choose their strategies and the game is played in five rounds. We refer to our model as automated game approach to wage negotiation and decision problems (AGAW). Our method proposes profit (positive or negative) sharing sequential game approach in modeling wage increase decisions within a firm in a competitive industry and this game is played between the firm's management and the union. The proposed approach is illustrated with a case study. The procedure and methodology proposed in this research may be easily implemented by business organisations in their wage bargaining and decision processes. © 2011 IEEE.

Original languageEnglish
Title of host publication2011 Annual Meeting of the North American Fuzzy Information Processing Society, NAFIPS'2011
DOIs
Publication statusPublished - 2011
Event2011 Annual Meeting of the North American Fuzzy Information Processing Society - El Paso, TX, United States
Duration: 18 Mar 201120 Mar 2011

Conference

Conference2011 Annual Meeting of the North American Fuzzy Information Processing Society
Abbreviated title NAFIPS'2011
CountryUnited States
CityEl Paso, TX
Period18/03/1120/03/11

Keywords

  • bargaining
  • business games
  • decision
  • employees
  • employers
  • game theory
  • salary
  • wage negotiation
  • zero sum

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