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Efficient Methods for Automated Multi-Issue Negotiation: Negotiating over a Two-Part Tariff

Efficient Methods for Automated Multi-Issue Negotiation: Negotiating over a Two-Part Tariff
Efficient Methods for Automated Multi-Issue Negotiation: Negotiating over a Two-Part Tariff
In this article, we consider the novel approach of a seller and customer negotiating bilaterally about a two-part tariff, using autonomous software agents. An advantage of this approach is that win-win opportunities can be generated while keeping the problem of preference elicitation as simple as possible. We develop bargaining strategies that software agents can use to conduct the actual bilateral negotiation on behalf of their owners. We present a decomposition of bargaining strategies into concession strategies and Pareto-efficient-search methods: Concession and Pareto-search strategies focus on the conceding and win-win aspect of bargaining, respectively. An important technical contribution of this article lies in the development of two Pareto-search methods. Computer experiments show, for various concession strategies, that the respective use of these two Pareto-search methods by the two negotiators results in very efficient bargaining outcomes while negotiators concede the amount specified by their concession strategy.
Automated Negotiation, Bilateral Negotiation, Multi-issue Negotiation, Pareto-efficiency, Two-Part Tariff, Derivative Follower
99-119
Somefun, D. J. A.
b32b750d-13d1-41bf-984a-2374173e46ba
Gerding, E. H.
d9e92ee5-1a8c-4467-a689-8363e7743362
La Poutre, J. A.
275c5cb4-c376-4b65-b4d9-7574fb5532ab
Somefun, D. J. A.
b32b750d-13d1-41bf-984a-2374173e46ba
Gerding, E. H.
d9e92ee5-1a8c-4467-a689-8363e7743362
La Poutre, J. A.
275c5cb4-c376-4b65-b4d9-7574fb5532ab

Somefun, D. J. A., Gerding, E. H. and La Poutre, J. A. (2006) Efficient Methods for Automated Multi-Issue Negotiation: Negotiating over a Two-Part Tariff. International Journal of Intelligent Systems, 21 (1), 99-119.

Record type: Article

Abstract

In this article, we consider the novel approach of a seller and customer negotiating bilaterally about a two-part tariff, using autonomous software agents. An advantage of this approach is that win-win opportunities can be generated while keeping the problem of preference elicitation as simple as possible. We develop bargaining strategies that software agents can use to conduct the actual bilateral negotiation on behalf of their owners. We present a decomposition of bargaining strategies into concession strategies and Pareto-efficient-search methods: Concession and Pareto-search strategies focus on the conceding and win-win aspect of bargaining, respectively. An important technical contribution of this article lies in the development of two Pareto-search methods. Computer experiments show, for various concession strategies, that the respective use of these two Pareto-search methods by the two negotiators results in very efficient bargaining outcomes while negotiators concede the amount specified by their concession strategy.

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Published date: January 2006
Keywords: Automated Negotiation, Bilateral Negotiation, Multi-issue Negotiation, Pareto-efficiency, Two-Part Tariff, Derivative Follower
Organisations: Agents, Interactions & Complexity

Identifiers

Local EPrints ID: 263435
URI: http://eprints.soton.ac.uk/id/eprint/263435
PURE UUID: ca5265b2-0641-4200-a4d7-9c9a06f21657
ORCID for E. H. Gerding: ORCID iD orcid.org/0000-0001-7200-552X

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Date deposited: 14 Feb 2007
Last modified: 20 Jul 2019 00:56

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Contributors

Author: D. J. A. Somefun
Author: E. H. Gerding ORCID iD
Author: J. A. La Poutre

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