A Real Trading Model based Price Negotiation Agents

Sim proposed a market-driven negotiation agent model that makes adjustable amounts of concession by reacting to different market situations and trading constraints, and it was improved with an enhanced market-driven strategy by taking opponent eagerness into consideration. In both Sim’s original model and improved model, however, it was implied that a negotiation agent has same behaviors and actions to all trading partners referring to a same trading issue. It is not quite true in a real world trading negotiation. Based on both models, this paper proposes a real trading model based price negotiation agents that take each trading partner as an individual with different strategies and actions. Moreover, negotiation actions between a negotiation agent and a trading partner are kept in secret and unknown to others.