The University of Southampton
University of Southampton Institutional Repository

Automated Bilateral Bargaining about Multiple Attributes in a One­ to ­Many Setting

Automated Bilateral Bargaining about Multiple Attributes in a One­ to ­Many Setting
Automated Bilateral Bargaining about Multiple Attributes in a One­ to ­Many Setting
Negotiations are an important way of reaching agreements between selfish autonomous agents. In this paper we focus on one-to-many bargaining within the context of agent-mediated electronic commerce. We consider an approach where a seller agent negotiates over multiple interdependent attributes with many buyer agents in a bilateral fashion. In this setting, "fairness", which corresponds to the notion of envy-freeness in auctions, may be an important business constraint. For the case of virtually unlimited supply (such as information goods), we present a number of one-to-many bargaining strategies for the seller agent, which take into account the fairness constraint, and consider multiple attributes simultaneously. We compare the performance of the bargaining strategies using an evolutionary simulation, especially for the case of impatient buyers. Several of the developed strategies are able to extract almost all the surplus; they utilize the fact that the setting is one-to-many, even though bargaining is bilateral.
Gerding, E.H.
d9e92ee5-1a8c-4467-a689-8363e7743362
Somefun, D.J.A.
3667271d-f167-40b0-9b82-7f393324262b
La Poutre, J.A.
31ffa5ed-a4a3-40d7-ac47-db7a375d95ae
Gerding, E.H.
d9e92ee5-1a8c-4467-a689-8363e7743362
Somefun, D.J.A.
3667271d-f167-40b0-9b82-7f393324262b
La Poutre, J.A.
31ffa5ed-a4a3-40d7-ac47-db7a375d95ae

Gerding, E.H., Somefun, D.J.A. and La Poutre, J.A. (2004) Automated Bilateral Bargaining about Multiple Attributes in a One­ to ­Many Setting. 6th International Conference on Electronic Commerce (ICEC'04), Delft, The, Netherlands.

Record type: Conference or Workshop Item (Paper)

Abstract

Negotiations are an important way of reaching agreements between selfish autonomous agents. In this paper we focus on one-to-many bargaining within the context of agent-mediated electronic commerce. We consider an approach where a seller agent negotiates over multiple interdependent attributes with many buyer agents in a bilateral fashion. In this setting, "fairness", which corresponds to the notion of envy-freeness in auctions, may be an important business constraint. For the case of virtually unlimited supply (such as information goods), we present a number of one-to-many bargaining strategies for the seller agent, which take into account the fairness constraint, and consider multiple attributes simultaneously. We compare the performance of the bargaining strategies using an evolutionary simulation, especially for the case of impatient buyers. Several of the developed strategies are able to extract almost all the surplus; they utilize the fact that the setting is one-to-many, even though bargaining is bilateral.

Text
autombarg2004a.pdf - Other
Download (293kB)

More information

Published date: 2004
Venue - Dates: 6th International Conference on Electronic Commerce (ICEC'04), Delft, The, Netherlands, 2004-01-01
Organisations: Agents, Interactions & Complexity

Identifiers

Local EPrints ID: 265624
URI: http://eprints.soton.ac.uk/id/eprint/265624
PURE UUID: 34bcac2f-e9a4-4f26-95d7-4d01e2a1bbbf
ORCID for E.H. Gerding: ORCID iD orcid.org/0000-0001-7200-552X

Catalogue record

Date deposited: 28 Apr 2008 15:13
Last modified: 26 Jun 2020 00:29

Export record

Contributors

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

University divisions

Download statistics

Downloads from ePrints over the past year. Other digital versions may also be available to download e.g. from the publisher's website.

View more statistics

Atom RSS 1.0 RSS 2.0

Contact ePrints Soton: eprints@soton.ac.uk

ePrints Soton supports OAI 2.0 with a base URL of http://eprints.soton.ac.uk/cgi/oai2

This repository has been built using EPrints software, developed at the University of Southampton, but available to everyone to use.

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive cookies on the University of Southampton website.

×