Abstract
Buyers always want to obtain goods at the lowest price. To achieve this, a buyer agent can have multiple concurrent negotiations with all the sellers. It is obvious that when the buyer obtains a new low offer from one of the sellers during negotiation, the buyer should have more bargaining power in negotiating with other sellers, as other sellers should offer a even lower price in order to make a deal. In this way, the concurrent negotiations mutually influence one another. In this paper, we present an algorithm to enable mutual influence among multiple concurrent negotiations. We show that the outcome of this algorithm is in Nash equilibrium when we model and analyze the negotiation as a game.
The work described in this paper was partially supported by a grant from the Research Grants Council of the Hong Kong Special Administrative Region, China (Project No. CUHK4346/02E).
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© 2005 Springer-Verlag Berlin Heidelberg
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Lam, Km., Leung, Hf. (2005). A Mutual Influence Algorithm for Multiple Concurrent Negotiations – A Game Theoretical Analysis. In: Khosla, R., Howlett, R.J., Jain, L.C. (eds) Knowledge-Based Intelligent Information and Engineering Systems. KES 2005. Lecture Notes in Computer Science(), vol 3682. Springer, Berlin, Heidelberg. https://doi.org/10.1007/11552451_136
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DOI: https://doi.org/10.1007/11552451_136
Publisher Name: Springer, Berlin, Heidelberg
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