ISSN : 1796-217X
Volume : 4    Issue : 1    Date : February 2009

An Agent-based Multi-attribute Sealed-bid Design for Bilateral Contract
Linlan Zhang and Xueguang Chen
Page(s): 65-72
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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
our 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. This method offers flexibility for the agents represent
their satisfaction for the combinations of different attributes using a multi-dimensional membership
functions, taking into account the interdependencies between the attributes. In addition, using the
proposed method of calculating agreed-price, agents can be stimulated to reach an agreement as
early as possible. Therefore, this method may shorten negotiation process, which is desired for
both parties. And the design can discourage counter-speculation and effectively control fraud and
misrepresentation in a certain extent. Through a case study, the capabilities of the proposed
method are illustrated.

Index Terms
bargaining, negotiation, sealed-bid, multiissue, multi-agent systems