Keywords
Altruism, Bayesian networks, game theory, negotiations, rationality, satisficing, sociology
Abstract
Negotiation procedures that are founded on the doctrine of individual rationality, where each participant is committed to maximizing its own satisfaction, are limited in their ability to accommodate the interests of others, and therefore, may unnecessarily constrain the negotiability of a decision maker, particularly in cooperative environments. Satisficing game theory provides a distinct alternative to the hyperrationality of conventional rational choice by waiving reliance on the individual rationality premise and offering an approach to negotiatory decision making that is based on a well-defined mathematical notion of satisficing, or being good enough, that permits the modeling of complex interrelationships between agents. This approach provides a mechanism to compute the attitude, or degree of conflict or contentedness, of the negotiators. Examples illustrate both single-round and multiround satisficing negotiation protocols.
Original Publication Citation
Archibald, J. K., et al. "Satisficing Negotiations." Systems, Man, and Cybernetics, Part C: Applications and Reviews, IEEE Transactions on 36.1 (26): 4-18
BYU ScholarsArchive Citation
Stirling, Wynn C.; Archibald, James K.; Hill, Jared C.; and Johnson, F. Ryan, "Satisficing negotiations" (2006). Faculty Publications. 328.
https://scholarsarchive.byu.edu/facpub/328
Document Type
Peer-Reviewed Article
Publication Date
2006-01-01
Permanent URL
http://hdl.lib.byu.edu/1877/1101
Publisher
IEEE
Language
English
College
Ira A. Fulton College of Engineering and Technology
Department
Electrical and Computer Engineering
Copyright Status
© 2006 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE.
Copyright Use Information
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