Protocols for Negotiating Complex Contracts

Mark Klein, Peyman Faratin, Hiroki Sayama, Yaneer Bar-Yam

Research output: Contribution to journalReview article

81 Citations (Scopus)

Abstract

The negotiation protocols for both simple and real-world contracts are discussed. Negotiation protocols work through the iterative exchange of proposals and counter-proposals. The proposals lead to either to an agreement or abandonement of the negotiation if the proposal's utility is below the agent's reservation value. The proposals from each agent start at the agent's separate ideals and then track the Pareto frontier until they meet in the middle with an optimal agreement. An agent uses linear utility functions, to identify the proposals that represents the minimal concessions.

Original languageEnglish
Pages (from-to)32-38
Number of pages7
JournalIEEE Intelligent Systems
Volume18
Issue number6
DOIs
Publication statusPublished - 2003 Nov
Externally publishedYes

ASJC Scopus subject areas

  • Computer Networks and Communications
  • Artificial Intelligence

Cite this

Protocols for Negotiating Complex Contracts. / Klein, Mark; Faratin, Peyman; Sayama, Hiroki; Bar-Yam, Yaneer.

In: IEEE Intelligent Systems, Vol. 18, No. 6, 11.2003, p. 32-38.

Research output: Contribution to journalReview article

Klein, Mark ; Faratin, Peyman ; Sayama, Hiroki ; Bar-Yam, Yaneer. / Protocols for Negotiating Complex Contracts. In: IEEE Intelligent Systems. 2003 ; Vol. 18, No. 6. pp. 32-38.
@article{6bfde93d56db4fda9555dc4b162d8dfa,
title = "Protocols for Negotiating Complex Contracts",
abstract = "The negotiation protocols for both simple and real-world contracts are discussed. Negotiation protocols work through the iterative exchange of proposals and counter-proposals. The proposals lead to either to an agreement or abandonement of the negotiation if the proposal's utility is below the agent's reservation value. The proposals from each agent start at the agent's separate ideals and then track the Pareto frontier until they meet in the middle with an optimal agreement. An agent uses linear utility functions, to identify the proposals that represents the minimal concessions.",
author = "Mark Klein and Peyman Faratin and Hiroki Sayama and Yaneer Bar-Yam",
year = "2003",
month = "11",
doi = "10.1109/MIS.2003.1249167",
language = "English",
volume = "18",
pages = "32--38",
journal = "IEEE Intelligent Systems",
issn = "1541-1672",
publisher = "Institute of Electrical and Electronics Engineers Inc.",
number = "6",

}

TY - JOUR

T1 - Protocols for Negotiating Complex Contracts

AU - Klein, Mark

AU - Faratin, Peyman

AU - Sayama, Hiroki

AU - Bar-Yam, Yaneer

PY - 2003/11

Y1 - 2003/11

N2 - The negotiation protocols for both simple and real-world contracts are discussed. Negotiation protocols work through the iterative exchange of proposals and counter-proposals. The proposals lead to either to an agreement or abandonement of the negotiation if the proposal's utility is below the agent's reservation value. The proposals from each agent start at the agent's separate ideals and then track the Pareto frontier until they meet in the middle with an optimal agreement. An agent uses linear utility functions, to identify the proposals that represents the minimal concessions.

AB - The negotiation protocols for both simple and real-world contracts are discussed. Negotiation protocols work through the iterative exchange of proposals and counter-proposals. The proposals lead to either to an agreement or abandonement of the negotiation if the proposal's utility is below the agent's reservation value. The proposals from each agent start at the agent's separate ideals and then track the Pareto frontier until they meet in the middle with an optimal agreement. An agent uses linear utility functions, to identify the proposals that represents the minimal concessions.

UR - http://www.scopus.com/inward/record.url?scp=0346265970&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=0346265970&partnerID=8YFLogxK

U2 - 10.1109/MIS.2003.1249167

DO - 10.1109/MIS.2003.1249167

M3 - Review article

VL - 18

SP - 32

EP - 38

JO - IEEE Intelligent Systems

JF - IEEE Intelligent Systems

SN - 1541-1672

IS - 6

ER -