Automated contract negotiation using a mediation service

Abstract

Current negotiation systems and related standards for electronic business transaction generally come in an "offer-counter-offer" fashion. Nevertheless, negotiation strategies for complex contracts in the condition of two-sided uncertainty receive little attention in the current protocol design activities. This study proposes implementing a mediation protocol based on a solid game-theoretic work to the problem of CPA negotiation. A correspondent automatic negotiation mechanism is also devised in this study that individual business entities can use to automate the negotiation process.