A Review of Decision-Making Models in Automated Negotiations

Automated negotiation using software agents is a dedicated research stream in distributed Artificial Intelligence (AI). Advances in AI, including conversational and generative models, have enhanced negotiation agents’ capabilities, leading to their increased adoption in the real world. However, their theoretical foundations remain underexplored, raising concerns about their appropriate applications. This paper reviews six generic types of decision-making models frequently employed in automated negotiations. The paper compares their strengths and limitations. It also discusses the challenges in the diffusion of negotiation agents, including social intelligence, technological agency, and ethical concerns.