Risk and expectations in a-priori time allocation in multi-agent contracting

Alexander Babanov, John Collins, Maria Gini

Research output: Contribution to conferencePaperpeer-review

7 Scopus citations

Abstract

In related research we have proposed a market architecture for multi-agent contracting and we have implemented prototypes of both the market architecture and the agents in a system called MAGNET. A customer agent in MAGNET solicits bids for the execution of multi-step plans, in which tasks have precedence and time constraints, by posting a Request for Quotes to the market. The Request for Quotes needs to include for each task its precedence constraints and a time window. In this paper, we study the problem of optimizing the time windows in the Requests for Quotes. Our approach is to use the Expected Utility Theory to reduce the likelihood of receiving unattractive bids, while maximizing the number of bids that are likely to be included in the winning bundle. We describe the model, illustrate its operation and properties, and discuss what assumptions are required for its successful integration into MAGNET or other multi-agent contracting systems.

Original languageEnglish (US)
Pages53-60
Number of pages8
DOIs
StatePublished - 2002
EventProceedings of the 1st International Joint Conference on: Autonomous Agents adn Multiagent Systems - Bologna, Italy
Duration: Jul 15 2002Jul 19 2002

Other

OtherProceedings of the 1st International Joint Conference on: Autonomous Agents adn Multiagent Systems
CountryItaly
CityBologna
Period7/15/027/19/02

Keywords

  • Automated auctions
  • Expected utility
  • Multi-agent contracting
  • Risk estimation

Cite this