Negotiation Agents that Make Prudent Compromises and are Slightly Flexible in Reaching Consensus
Kwang Mong Sim · Computational Intelligence · 2004
The contribution of this work is designing and developingenhanced market‐driven agentswith the flexibility to (1) respond to changing market conditions, and (2) raise and relax trade aspirations. Previous theoretical analyses have shown that market‐driven agents (MDAs) make prudent compromises by reacting to changing market situations by taking into account factors such as competition, deadlines, and trading options. This work augments the design of anMDAwith three fuzzy decision controllers that guide the agent in (i) relaxing trade aspiration in face of intense negotiation pressure, and (ii) raising trade aspiration in extremely favorable markets. Results from extensive simulations conducted using an implemented testbed suggest that when compared toMDAs, agents in this work achieved (1) higher success rates in reaching deals, (2) higher average utilities, and (3) higher expected utility.