New blog post ‘Game Over: Facing the AI Negotiator’ by Horst Eidenmüller

Oxford Business Law Blog has published a new post by by Horst Eidenmüller. In the post 'Game Over: Facing the AI Negotiator’ Professor Eidenmüller argues that AI applications will put an end to negotiation processes as we know them.

The typical back-and-forth communication and haggling in a state of information insecurity could soon be a thing of the past. AI applications will increase the information level of the parties and drastically reduce transaction costs. A quick and predictable agreement in the middle of a visible bargaining range could become the new normal. But sophisticated negotiators will shift this bargaining range to their advantage. They will automate negotiation moves and execute value-claiming strategies with precision, exploiting remaining information asymmetries for their benefit. Negotiations will no longer be open-ended communication processes. They will become machine-driven chess endgames. Large businesses will have the upper hand in these endgames.