Journal
IEEE TRANSACTIONS ON SYSTEMS MAN AND CYBERNETICS PART B-CYBERNETICS
Volume 34, Issue 3, Pages 1602-1608Publisher
IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
DOI: 10.1109/TSMCB.2004.825935
Keywords
automate negotiation; intelligent agent
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The distinguishing feature of negotiation agents in this paper is that they are designed with the flexibility to make adjustable amounts of concession by reacting to changing market conditions, taking into account factors such as competition, deadlines, and trading options, and relaxing trading aspirations in face of (intense) negotiation pressure (e.g., stiff competition) using a set of fuzzy rules. Extensive amounts of stochastic simulations were conducted on a wide variety of test environments including dense, moderate, sparse, balanced, favorable, and unfavorable markets on stringent, as well as, relaxed constraints. Empirical results suggest that on average, when compared to Sim's market-driven agents, agents in this research achieved higher success rates in reaching a deal, and higher expected utilities.
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