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Growing Science » Decision Science Letters » Optimizing bid search in large outcome spaces for automated multi-issue negotiations using meta-heuristic methods

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Decision Science Letters

ISSN 1929-5812 (Online) - ISSN 1929-5804 (Print)
Quarterly Publication
Volume 10 Issue 1 pp. 1-20 , 2021

Optimizing bid search in large outcome spaces for automated multi-issue negotiations using meta-heuristic methods Pages 1-20 Right click to download the paper Download PDF

Authors: Mohammad Amini, Mohammad Fathian

DOI: 10.5267/j.dsl.2020.10.007

Keywords: Automated negotiations, Bidding Strategy, Outcome Space, Bid Search, Metaheuristics

Abstract: Bidding strategy is an important part of a negotiation strategy in automated multi-issue negotiations. In order to present good offers, which help maximize the agent’s utility, we need to search the outcome space and find appropriate bids. Bid search can become challenging in large outcome spaces with more than ten thousands of possible bids. The traditional search methods such as exhaustive or binary search are not efficient enough to find the right bids in a large space. This is mostly due to the high number of issues, high number of possible values for each issue, and increased time complexity of usual search methods. In this paper, we investigate the potential of using meta-heuristic methods for optimizing bid search in large outcome spaces. We apply some of the most popular meta-heuristic algorithms for bid search in bidding strategy of baseline negotiating agents and evaluate their impacts on negotiation performance in different negotiation domains. The evaluation results obtained through comprehensive experiments show how meta-heuristic algorithms can help improve bid search capability and consequently negotiation performance of the agents on different performance criteria. In addition, we show which search algorithm is most suitable for improving any particular performance criterion.

How to cite this paper
Amini, M & Fathian, M. (2021). Optimizing bid search in large outcome spaces for automated multi-issue negotiations using meta-heuristic methods.Decision Science Letters , 10(1), 1-20.

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Journal: Decision Science Letters | Year: 2021 | Volume: 10 | Issue: 1 | Views: 1181 | Reviews: 0

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