SOSBP: An Efficient Bargaining Protocol for E-Market

Authors:
Liu Hong;Haigang Song;Xueguang Chen;Qihua Zhang
Affiliations:
Institute of System Engineering, Huazhong University of Science and Technology, Wuhan, P. R. China 430074 and Key Lab. for Image Processing & Intelligent control, Huazhong University of Science an ...;Basic Research Service of the Ministry of Science and Technology of the P. R. China, Beijing, P. R. China 100862;Institute of System Engineering, Huazhong University of Science and Technology, Wuhan, P. R. China 430074 and Key Lab. for Image Processing & Intelligent control, Huazhong University of Science an ...;Semiconductor Manufacturing International Corporation, Shanghai, P. R. China 201203
Venue:
ISNN '09 Proceedings of the 6th International Symposium on Neural Networks on Advances in Neural Networks
Year:
2009

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Abstract

Alternating-Offer Protocol (AOP) is the most predominant way for one-to one bargaining. In this paper, we provide an alternative protocol, Sealed-Offer Synchronous Bargaining Protocol (SOSBP), which can be useful for the automated bargaining between self-interested agents for Open E-Marketplaces. SOSBP introduces an intermediary agent who monitors the bargaining process and hides buyer's offers from seller, and vice versa. Using SOSBP, agents could free submit their offers for evaluating because the intermediary agent has no preference on both buyer and seller. We design some mechanisms to facilitate the success of bargaining, such as Minimum Concession, Concession Reward, Surplus Quote and etc, and present the basic framework of SOSBP. From the result of strategy analysis and experimental study, we concluded that SOSBP has better performance than AOP when agents negotiate under specified situation.