In　an　open　electricity　market　environment,　power　generators　and　large　users　participating　in　bilateral　transactions　have　to　use　limited　information　to　estimate　each　other＇s　reservation　prices,　to　help　themselves　adjust　and　improve　their　offer　strategies,　and　to　improve　the　probability　of　successful　transactions.　A　reservation　price　pricing　method　combining　perceived　value　and　cost　is　proposed,　based　on　which　a　bilateral　transaction　negotiation　model　is　constructed.　We　estimate　the　actual　utility　of　power　consumers　(power　generators)　through　the　expected　use　value　of　the　power　generators　(power　consumers)　and　determine　the　other　party＇s　reservation　price　by　combining　the　cost　of　power　generation　and　willingness　to　pay.　We　describe　the　participants＇　offer　strategies　through　concession　factors　and　examine　the　dynamic　iterative　process　of　participants＇　negotiation.　The　analyses　of　the　algorithms　show　that　the　method　can　be　applied　to　one-to-many　and　many-to-many　transaction　matching,　but　the　transaction　steps　will　be　more　complicated　when　the　offer　gap　between　the　matching　parties　is　too　large.　©　2024　IEEE.