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Efficient Multi-Attribute Negotiation with Incomplete Information

Author

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  • Guoming Lai

    (Carnegie Mellon University)

  • Cuihong Li

    (University of Connecticut 2100)

  • Katia Sycara

    (Mellon University)

Abstract

Multi-attribute negotiation is an important mechanism for distributed decision makers to reach agreements in real-world situations. It allows the possibility of reaching “win-win” solutions for both parties, who trade off different attributes in a solution. Existing research on multi-attribute negotiations has mainly focused on the situations when negotiation parties have complete information about each other's preference. This paper presents a model with incomplete information, while considering Pareto-efficiency and computational efficiency. A non-biased mediator, who applies query learning to maintain near Pareto-efficiency without heavy computation, is adopted in the model. In addition, the mediating mechanism proposed in the model overcomes the difficulty of preference elicitation which usually arises in the preliminary step of a multi-attribute negotiation. Our model also reduces the negotiation complexity by decomposing the original n-dimensional negotiation space into a sequence of negotiation base lines. Agents can negotiate upon a base line with rather simple strategies. The experimental results show that near Pareto-efficient agreements can be reached effectively.

Suggested Citation

  • Guoming Lai & Cuihong Li & Katia Sycara, 2006. "Efficient Multi-Attribute Negotiation with Incomplete Information," Group Decision and Negotiation, Springer, vol. 15(5), pages 511-528, September.
  • Handle: RePEc:spr:grdene:v:15:y:2006:i:5:d:10.1007_s10726-006-9041-y
    DOI: 10.1007/s10726-006-9041-y
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    References listed on IDEAS

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    Cited by:

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    3. Paula Sarabando & Luís C. Dias & Rudolf Vetschera, 2013. "Mediation with Incomplete Information: Approaches to Suggest Potential Agreements," Group Decision and Negotiation, Springer, vol. 22(3), pages 561-597, May.
    4. Eskesen, Anita, 2021. "A contract design perspective on balancing the goals of utility regulation," Utilities Policy, Elsevier, vol. 69(C).
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    7. Jorge E. Hernández & Josefa Mula & Raúl Poler & Andrew C. Lyons, 2014. "Collaborative Planning in Multi-tier Supply Chains Supported by a Negotiation-Based Mechanism and Multi-agent System," Group Decision and Negotiation, Springer, vol. 23(2), pages 235-269, March.

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