SmartSettle Described with the Montreal Taxonomy

This paper uses the Montreal Taxonomy endogenous classification criteria as a basis with which to describe the SmartSettle negotiation support system (Strobel and Weinhardt 2002). SmartSettle is an implementation of the US ICANS neutral site patent 5,495,412 and it is based on research at Cornell University (Thiessen 1993; Thiessen and Loucks 1992, 1998). The description in this paper is extended beyond the Montreal Taxonomy where the existing granularity is not fine enough or further clarity seems warranted. The SmartSettle negotiation system puts any number of decision makers with conflicting objectives in control of a process that produces better agreements (measured in terms of efficiency and fairness) in a shorter time than non-electronic negotiation processes. SmartSettle’s current advanced mode is practical for the most complex business negotiations. The configuration is customizable by the user by means of parameter settings. A simple mode soon to be released will also be applicable to even the simplest cases such as single-issue auctions and insurance claims. If the reader is not already familiar with the SmartSettle system, s/he may benefit from a review of examples posted on the SmartSettle website (www.smartsettle.com) before reading this paper.