A Solution for Bilateral Negotiations in the Navy Detailing Process: Cognitive Agents Technology Project
Abstract
We present a model for bilateral negotiations that considers the uncertain and dynamic outside options. Outside options affect the negotiation strategies via their impact on the reservation price. The model is composed of three modules, single-threaded negotiations, synchronized multi-threaded negotiations, and dynamic multi-threaded negotiations. These three models embody increased sophistication and complexity. The single-threaded negotiation model provides negotiation strategies without specifically considering outside options. The model of synchronized multi-threaded negotiations builds on the single-threaded negotiation model and considers the presence of concurrently existing outside options. The model of dynamic multi-threaded negotiations expands the synchronized multi-threaded model by considering the uncertain outside options that may come dynamically in the future. Results show that the utility of a negotiator improves significantly if she considers outside options, and the average utility is higher when she both considers the concurrent outside options and foresees future options.
Document Details
- Document Type
- Technical Report
- Publication Date
- Sep 01, 2008
- Accession Number
- ADA486084
Entities
People
- Cuihong Li
- Joseph Giampapa
- Katia Sycara
Organizations
- Carnegie Mellon University