A fuzzy multi-agent bidding model

Abstract

This work formalizes an original bidding model to be applied in complex negotiation scenarios with conflicting interests, involving multiple bidders and a single announcer agent. Agents have preferences, and the bidding model is formalized with a bidding path algorithm applied to the transportation industry. In each negotiation round every bidding agent must put forward a bid that not only meets the satisfaction threshold set by the announcer, but also simultaneously maximizes bidder and announcer satisfaction. On doing so the bidders are walking a bidding path. This work formalizes the bidding path algorithm concept, which is at the core of our bidding model.