An Agent-Based Multi-Attribute Sealed-Bid Design for Bilateral Contract

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Executive Summary

This paper presents an agent-based sealed-bid design for multi-issue negotiation in an incomplete information setting. The information of both agents is considered completely private. In the authors' agent-based model, each agent builds a multi-dimensional fuzzy satisfaction set for the attributes of a commodity using fuzzy linguistic terms. The issues relating to an offer are divided into two categories (i.e., quantitative issues and qualitative issues). At each time-step of the negotiation, both agents submit a combined offer of quantitative issues for each discrete value of qualitative issue to the mediate agent simultaneously.

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