Negotiating using rewards
OA Location
Author(s)
Ramchurn, SD
Sierra, C
Godo, L
Jennings, NR
Type
Journal Article
Abstract
In situations where self-interested agents interact repeatedly, it is important that they are endowed with negotiation techniques that enable them to reach agreements that are profitable in the long run. To this end, we devise a novel negotiation algorithm that generates promises of rewards in future interactions, as a means of permitting agents to reach better agreements, in a shorter time, in the present encounter. Moreover, we thus develop a specific negotiation tactic based on this reward generation algorithm and show that it can achieve significantly bettter outcomes than existing benchmark tactics that do not use such inducements. Specifically, we show, via empirical evaluation, that our tactic can lead to a 26% improvement in the utility of deals that are made and that 21 times fewer messages need to be exchanged in order to achieve this under concrete settings.
Date Issued
2006
Citation
Proc. 5th Int. Conf. on Autonomous Agents and Multi-Agent Systems, Hakodate, Japan, 2006, pp.400-407
Start Page
400
End Page
407
Journal / Book Title
Proc. 5th Int. Conf. on Autonomous Agents and Multi-Agent Systems, Hakodate, Japan
Identifier
http://eprints.soton.ac.uk/262591/
Source
5th Int. Conf. on Autonomous Agents and Multi-Agent Systems
Notes
keywords: Persuasive Negotiation, Bargaining, Argumentation
Publication Status
Unpublished