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Negotiating Complex Contracts

Author

Listed:
  • Mark Klein

    (Massachusetts Institute of Technology)

  • Peyman Faratin

    (Massachusetts Institute of Technology)

  • Hiroki Sayama

    (New England Complex Systems Institute)

  • Yaneer Bar-Yam

    (New England Complex Systems Institute)

Abstract

Work to date on computational models of negotiation has focused almost exclusively on defining contracts consisting of one or a few independent issues and tractable contract spaces. Many real-world contracts, by contrast, are much more complex, consisting of multiple inter-dependent issues and intractably large contract spaces. This paper describes a simulated annealing based approach appropriate for negotiating such complex contracts that achieves near-optimal social welfares for negotiations with binary issue dependencies.

Suggested Citation

  • Mark Klein & Peyman Faratin & Hiroki Sayama & Yaneer Bar-Yam, 2003. "Negotiating Complex Contracts," Group Decision and Negotiation, Springer, vol. 12(2), pages 111-125, March.
    • Handle: RePEc:spr:grdene:v:12:y:2003:i:2:d:10.1023_a:1023068821218
    DOI: 10.1023/A:1023068821218
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    Citations

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    Cited by:

    1. Ivan Marsa-Maestre & Enrique Hoz & Jose Manuel Gimenez-Guzman & David Orden & Mark Klein, 2019. "Nonlinear Negotiation Approaches for Complex-Network Optimization: A Study Inspired by Wi-Fi Channel Assignment," Group Decision and Negotiation, Springer, vol. 28(1), pages 175-196, February.
    2. Shelley D. Dionne & Hiroki Sayama & Francis J. Yammarino, 2019. "Diversity and Social Network Structure in Collective Decision Making: Evolutionary Perspectives with Agent-Based Simulations," Complexity, Hindawi, vol. 2019, pages 1-16, March.
    3. Guoming Lai & Katia Sycara, 2009. "A Generic Framework for Automated Multi-attribute Negotiation," Group Decision and Negotiation, Springer, vol. 18(2), pages 169-187, March.
    4. Benjamin Kang & James Unwin, 2022. "All-pay auctions as models for military annexation," Letters in Spatial and Resource Sciences, Springer, vol. 15(2), pages 145-160, August.
    5. Michael Filzmoser & Johannes R. Gettinger, 2019. "Offer and veto: an experimental comparison of two negotiation procedures," EURO Journal on Decision Processes, Springer;EURO - The Association of European Operational Research Societies, vol. 7(1), pages 83-99, May.
    6. Ronghuo Zheng & Tinglong Dai & Katia Sycara & Nilanjan Chakraborty, 2016. "Automated Multilateral Negotiation on Multiple Issues with Private Information," INFORMS Journal on Computing, INFORMS, vol. 28(4), pages 612-628, November.
    7. Homberger, Jörg & Fink, Andreas, 2017. "Generic negotiation mechanisms with side payments – Design, analysis and application for decentralized resource-constrained multi-project scheduling problems," European Journal of Operational Research, Elsevier, vol. 261(3), pages 1001-1012.
    8. Fink, Andreas & Gerhards, Patrick, 2021. "Negotiation mechanisms for the multi-agent multi-mode resource investment problem," European Journal of Operational Research, Elsevier, vol. 295(1), pages 261-274.
    9. Suzuki, Yoshinori, 2016. "A dual-objective metaheuristic approach to solve practical pollution routing problem," International Journal of Production Economics, Elsevier, vol. 176(C), pages 143-153.
    10. Weiskircher, Rene & Kontoleon, Nectarios & Garcia-Flores, Rodolfo & Dunstall, Simon, 2009. "Using agents for solving a multi-commodity-flow problem," European Journal of Operational Research, Elsevier, vol. 194(3), pages 888-900, May.
    11. Zhang, Linlan & Song, Haigang & Chen, Xueguang & Hong, Liu, 2011. "A simultaneous multi-issue negotiation through autonomous agents," European Journal of Operational Research, Elsevier, vol. 210(1), pages 95-105, April.
    12. Lang, Fabian & Fink, Andreas & Brandt, Tobias, 2016. "Design of automated negotiation mechanisms for decentralized heterogeneous machine scheduling," European Journal of Operational Research, Elsevier, vol. 248(1), pages 192-203.
    13. Ivan Marsa-Maestre & Miguel A. Lopez-Carmona & Juan A. Carral & Guillermo Ibanez, 2013. "A Recursive Protocol for Negotiating Contracts Under Non-monotonic Preference Structures," Group Decision and Negotiation, Springer, vol. 22(1), pages 1-43, January.
    14. Katsuhide Fujita & Takayuki Ito & Mark Klein, 2012. "A Secure and Fair Protocol that Addresses Weaknesses of the Nash Bargaining Solution in Nonlinear Negotiation," Group Decision and Negotiation, Springer, vol. 21(1), pages 29-47, January.
    15. Fabian Lang & Andreas Fink, 2015. "Learning from the Metaheuristics: Protocols for Automated Negotiations," Group Decision and Negotiation, Springer, vol. 24(2), pages 299-332, March.

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