Automated negotiation
term_id: automated_negotiation
Category: basic_concepts
Definition
Automated negotiation involves software agents that represent human interests in bargaining processes. These agents use game theory, optimization algorithms, and machine learning to propose offers, evaluate counter-proposals, and determine optimal strategies to maximize utility. It is widely used in e-commerce, supply chain management, and resource allocation where speed and efficiency are critical.
Summary
The use of AI agents to autonomously conduct negotiations and reach agreements between parties.
Key Concepts
- Multi-Agent Systems
- Game Theory
- Utility Functions
- Bargaining Protocols
Use Cases
- Dynamic pricing in e-commerce
- Supply chain contract management
- Resource sharing in cloud computing