Where do people gather to bargain in Central Jakarta?
People gather in the Rawasari night market of Central Jakarta to haggle over goods. In Indonesia, locals bargain for items and services everywhere from street markets to hotels.
Questions about Bargaining
Short answers, pulled from the story.
What is the Nash bargaining solution in game theory?
The Nash bargaining solution maximizes the product of an agent's utilities on the bargaining set. John Nash defined a classical bargaining problem as being a set of joint allocations of utility where some correspond to what players obtain if they reach agreement.
Which countries practice bargaining for sheep and other goods?
The Dongxiangs people bargain for sheep in China's Gansu province. This practice is common across many Asian regions where bargaining remains the norm even for small commercial transactions.
How does GDP Per Capita Income affect bargaining practices?
A growth in the country's GDP Per Capita Income is bound to reduce both the ill-effects of bargaining and the unscrupulous practices undertaken by vendors at street markets. Haggling is often commonplace in poorer countries or poorer localities within any specific country.
Who published work on games supply chains and automatic strategy discovery using evolutionary computation?
Tim Gosling, Nanlin Jin and Edward Tsang published work on games supply chains and automatic strategy discovery using evolutionary computation. Their research appears in the Handbook of research on nature-inspired computing for economics and management.