Checking Correctness of Business Contracts via Commitments

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Provided by: International Foundation for Autonomous Agents and Multiagent Systems
Topic: Big Data
Format: PDF
Business contracts tend to be complex. In current practice, contracts are often designed by hand and adopted by their participants after, at best, a manual analysis. This paper motivates and formalizes two aspects of contract correctness from the perspective of the preferences of the agents participating in them. A contract is safe for a participant if participating in the contract would not leave the participant worse off than otherwise. More strongly, a contract is beneficial to a participant if participating in the contract would leave the participant better off than otherwise. This paper seeks to partially automate reasoning about the correctness of formally modeled business contracts.
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