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The aim of this paper is to propose an experimental business management approach to cover a seller-to-customer price negotiation in an agent-based simulations. The core element in this approach is the price negotiation. We used Marshallian demand function and a Cobb-Douglas utility function in the negotiation process. Moreover, multi-agent model is proposed and implemented in Jade development platform. Its task is to serve as a simulation framework for the trading processes execution. The main background of this framework is to be integrated in management information systems as a decision support module for a prediction of key performance indicators of a virtual company. A binomial distribution was used in presented experiments to simulate the quantity of negotiated commodities. The paper firstly presents some of the existing principles about consumer behavior, agent-based modeling and simulation in the same area and demand function theory. Secondly, presents multi-agent model and demand functions negotiations more formally. Finally, shows some of the simulation results in a trading processes throughout one year of selling commodities to consumers. The results obtained show that the demand functions could be properly used to simulate trading processes.
Šperka et al. (Wed,) studied this question.