A study on dynamic bargaining strategy under time constraints and with incomplete information

On the Internet, the bilateral bargaining agents would often fall into failure or cause poor utility value at the end of bargaining under time constraints and with incomplete information. The core issue of bargaining between agents on the Internet is the bargaining strategies. However, under time constraints and with incomplete information, the bilateral agents tend to obtain poor utility value. This outcome usually causes the fail bargaining. To overcome the problem, this paper proposes a dynamic bargaining algorithm with novel and simple characteristics to make offers. The algorithm predicts the opponent´s possible offers for the consecutive rounds with little information about its opponent´s deadline, reservation price, and bargaining strategy. Then, it revises its offer function to maximize its utility in one possible agreement point. The experiments show that the algorithm would enhance the ratio of reaching agreement and the utility value at the end of the bargaining.