Automated Sealed-Bid Negotiation Model for Multi-issue Based on Fuzzy Method

Authors:
Linlan Zhang;Haigang Song;Xueguang Chen
Affiliations:
Institute of Systems Engineering, Huazhong University of Science and Technology, Wuhan, China 430074;Basic Research Service of the Ministry of Science and Technology of the P. R. China, Beijing, China 100081;Institute of Systems Engineering, Huazhong University of Science and Technology, Wuhan, China 430074
Venue:
ISNN 2009 Proceedings of the 6th International Symposium on Neural Networks: Advances in Neural Networks - Part II
Year:
2009

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Abstract

This paper presents an automated sealed-bid design for multi-issue negotiation. In our negotiation model, both agents simultaneously submit their offers to the mediate agent. Each agent has a representation of its desired attributes for a trading commodity using fuzzy linguistic terms. This method is flexible for the agents to offer according to own demand, taking into account the interdependencies between the attributes. It is important to emphasize that proposed bargaining method is carried out under incomplete information, and agents' information about own parameters are considered completely private. The design can discourage counter-speculation and effectively control fraud and misrepresentation in a certain extent. In addition, using the proposed method of calculating agreed-price, agents can be stimulated to reach an agreement as early as possible. Through a case study, the capabilities of the proposed method are illustrated.