Representative agents and the cold start problem in contract negotiation

Federico Cerutti*, Christopher Burnett, Nir Oren

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Principal Agent Theory (PAT) seeks to identify the incentives and sanctions that a consumer should apply when entering into a contract with a provider in order to maximise their own utility. However, identifying suitable contracts-maximising utility while minimising regret- is difficult, particularly when little information is available about provider competencies. In this paper we show that a global contract can be used to govern such interactions, derived from the properties of a representative agent. After describing how such a contract can be obtained, we analyse the contract utility space and its properties. Then, we show how this contract can be used to address the cold start problem and that it significantly outperforms other approaches. Finally, we discuss how our work can be integrated with existing research into multi-agent systems.

Original languageEnglish
Title of host publicationCoordination, Organizations, Institutions, and Normes in Agent Systems XI - COIN 2015
EditorsVirginia Dignum, Pablo Noriega, Murat Sensoy, Jaime Simão Sichman
PublisherSpringer-Verlag
Pages42-58
Number of pages17
Volume9628
ISBN (Print)9783319426907
DOIs
Publication statusPublished - 2016
EventThe XIX International Workshop on Coordination, Organizations, Institutions and Norms in Multiagent Systems - Istanbul, Turkey
Duration: 4 May 2015 → …

Publication series

NameLecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume9628
ISSN (Print)03029743
ISSN (Electronic)16113349

Conference

ConferenceThe XIX International Workshop on Coordination, Organizations, Institutions and Norms in Multiagent Systems
CountryTurkey
CityIstanbul
Period4/05/15 → …

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ASJC Scopus subject areas

  • Theoretical Computer Science
  • Computer Science(all)

Cite this

Cerutti, F., Burnett, C., & Oren, N. (2016). Representative agents and the cold start problem in contract negotiation. In V. Dignum, P. Noriega, M. Sensoy, & J. S. Sichman (Eds.), Coordination, Organizations, Institutions, and Normes in Agent Systems XI - COIN 2015 (Vol. 9628, pp. 42-58). (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 9628). Springer-Verlag. https://doi.org/10.1007/978-3-319-42691-4_3