A chaotic owl search algorithm based bilateral negotiation model

Abstract

Negotiation is a core activity between stakeholders with different goals. This paper offers a solution based on the automated bilateral negotiation model using a recent meta-heuristic algorithm Owl Search Algorithm (OSA), and chaos theory. The proposed algorithm called Chaotic Owl Search Algorithm (COSA). This algorithm is used to adapt negotiation strategies for computing negotiation offers throughout the negotiation process. For this aim, a negotiation grasped between two parties during several negotiation rounds. The results of the proposed algorithm compared with the standard OSA, PSO and the most common negotiation tactics. Different control parameters considered for accurate judgments of the suggested optimization techniques. The comparative study proved that the COSA provides accurate results over compared algorithms in terms of Average buyers’ /seller’s utility, Average negotiation rounds and Average processing time. This paper is the first of integrating chaos theory with the OSA in optimization problems and especially in the negotiation process.