Fuzzy Decision Making in Bilateral Negotiation

Devika Prashad

Abstract


In this research, we describe the negotiation process as a multistage fuzzy decision problem with a fuzzy aim and fuzzy constraints to capture the actors' preferences. The opponent is represented by a fuzzy Markov decision process in the form of offer-response patterns, which allows for the use of restricted and ambiguous information, such as concession behaviour traits. We demonstrate that we can obtain adaptive negotiation strategies by simply creating and updating the fuzzy transition matrix with negotiation threads from two previous cases. The experimental results show that our approach is adaptable to different negotiation behaviours and that the fuzzy representation of preferences and the transition matrix allow for application in a wide range of scenarios where the available information, preferences, and constraints are soft.

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