Abstract
In dynamic and complex negotiation environments, a negotiation agent can participate or quit negotiation at any time and can potentially reach an agreement with more than one trading partner as the result of the existence of dynamic outside options. Thus, it's important for a negotiation agent to make a decision on when to complete negotiation given its trading partners' current proposals and market dynamics. Rather than explicitly modeling all the trading partners, this paper presents a novel decision making strategy based on a tractable Markov chain model of negotiation process. An agent can use this model to determine whether to accept the best proposal of its trading partners or let negotiation proceed forward during each round of negotiation. Experimental results suggest that the proposed strategy achieved more favorable negotiation outcomes as compared with the general strategy.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
