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Negotiating using rewards

Negotiating using rewards
Negotiating using rewards
In situations where self-interested agents interact repeatedly, it is important that they are endowed with negotiation techniques that enable them to reach agreements that are profitable in the long run. To this end, we devise a novel negotiation algorithm that generates promises of rewards in future interactions, as a means of permitting agents to reach better agreements, in a shorter time, in the present encounter. Moreover, we thus develop a specific negotiation tactic based on this reward generation algorithm and show that it can achieve significantly bettter outcomes than existing benchmark tactics that do not use such inducements. Specifically, we show, via empirical evaluation, that our tactic can lead to a 26% improvement in the utility of deals that are made and that 21 times fewer messages need to be exchanged in order to achieve this under concrete settings.
Persuasive Negotiation, Bargaining, Argumentation
400-407
Ramchurn, S.D.
1d62ae2a-a498-444e-912d-a6082d3aaea3
Sierra, C.
3f8f6400-5899-4871-8b30-7f84a52ec9fa
Godo, L.
6b2f1731-555a-4167-86d1-44e5a2ffecae
Jennings, N. R.
ab3d94cc-247c-4545-9d1e-65873d6cdb30
Ramchurn, S.D.
1d62ae2a-a498-444e-912d-a6082d3aaea3
Sierra, C.
3f8f6400-5899-4871-8b30-7f84a52ec9fa
Godo, L.
6b2f1731-555a-4167-86d1-44e5a2ffecae
Jennings, N. R.
ab3d94cc-247c-4545-9d1e-65873d6cdb30

Ramchurn, S.D., Sierra, C., Godo, L. and Jennings, N. R. (2006) Negotiating using rewards. 5th Int. conf. on Autonomous Agents and Multi-Agent Systems, Japan. pp. 400-407 .

Record type: Conference or Workshop Item (Paper)

Abstract

In situations where self-interested agents interact repeatedly, it is important that they are endowed with negotiation techniques that enable them to reach agreements that are profitable in the long run. To this end, we devise a novel negotiation algorithm that generates promises of rewards in future interactions, as a means of permitting agents to reach better agreements, in a shorter time, in the present encounter. Moreover, we thus develop a specific negotiation tactic based on this reward generation algorithm and show that it can achieve significantly bettter outcomes than existing benchmark tactics that do not use such inducements. Specifically, we show, via empirical evaluation, that our tactic can lead to a 26% improvement in the utility of deals that are made and that 21 times fewer messages need to be exchanged in order to achieve this under concrete settings.

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More information

Published date: 2006
Venue - Dates: 5th Int. conf. on Autonomous Agents and Multi-Agent Systems, Japan, 2006-01-01
Keywords: Persuasive Negotiation, Bargaining, Argumentation
Organisations: Agents, Interactions & Complexity

Identifiers

Local EPrints ID: 262591
URI: http://eprints.soton.ac.uk/id/eprint/262591
PURE UUID: c88213b5-3c31-47ef-87e5-4ca7b5981001
ORCID for S.D. Ramchurn: ORCID iD orcid.org/0000-0001-9686-4302

Catalogue record

Date deposited: 16 May 2006
Last modified: 17 Dec 2019 01:46

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