Stochastic strategy for multiagent contracts and the impact of deliberation overhead

Sunju Park, Edmund H. Durfee

Research output: Contribution to conferencePaper

Abstract

A four-step stochastic contracting strategy has been developed. The agent models the contracting process using Markov chains (MC), computes the transition probabilities between the MC states, computes the probabilities and payoffs of success and failure of a contract, and chooses an action that maximizes its expected utility. The strategy has been shown to perform better than a static strategy and a simple stochastic strategy.

Original languageEnglish
Number of pages1
Publication statusPublished - 1997 Dec 1
EventProceedings of the 1997 14th National Conference on Artificial Intelligence, AAAI 97 - Providence, RI, USA
Duration: 1997 Jul 271997 Jul 31

Conference

ConferenceProceedings of the 1997 14th National Conference on Artificial Intelligence, AAAI 97
CityProvidence, RI, USA
Period97/7/2797/7/31

Fingerprint

Markov processes

All Science Journal Classification (ASJC) codes

  • Software
  • Artificial Intelligence

Cite this

Park, S., & Durfee, E. H. (1997). Stochastic strategy for multiagent contracts and the impact of deliberation overhead. Paper presented at Proceedings of the 1997 14th National Conference on Artificial Intelligence, AAAI 97, Providence, RI, USA, .
Park, Sunju ; Durfee, Edmund H. / Stochastic strategy for multiagent contracts and the impact of deliberation overhead. Paper presented at Proceedings of the 1997 14th National Conference on Artificial Intelligence, AAAI 97, Providence, RI, USA, .1 p.
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Park, S & Durfee, EH 1997, 'Stochastic strategy for multiagent contracts and the impact of deliberation overhead', Paper presented at Proceedings of the 1997 14th National Conference on Artificial Intelligence, AAAI 97, Providence, RI, USA, 97/7/27 - 97/7/31.

Stochastic strategy for multiagent contracts and the impact of deliberation overhead. / Park, Sunju; Durfee, Edmund H.

1997. Paper presented at Proceedings of the 1997 14th National Conference on Artificial Intelligence, AAAI 97, Providence, RI, USA, .

Research output: Contribution to conferencePaper

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AU - Durfee, Edmund H.

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Y1 - 1997/12/1

N2 - A four-step stochastic contracting strategy has been developed. The agent models the contracting process using Markov chains (MC), computes the transition probabilities between the MC states, computes the probabilities and payoffs of success and failure of a contract, and chooses an action that maximizes its expected utility. The strategy has been shown to perform better than a static strategy and a simple stochastic strategy.

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Park S, Durfee EH. Stochastic strategy for multiagent contracts and the impact of deliberation overhead. 1997. Paper presented at Proceedings of the 1997 14th National Conference on Artificial Intelligence, AAAI 97, Providence, RI, USA, .