An agent-based negotiation model supporting transactions in electronic commerce

Electronic commerce is a new way of trading on the increasingly popular computer network, Internet. Electronic commerce has rapidly become a major player in the business market. There is a need for business entities to utilise electronic commerce, and security must also be considered. Transactions in electronic commerce involve the transmission of data and other value adding to existing products or databases. Nevertheless, there are some major hurdles that block electronic commerce such as mutual trust, transaction security and the nature of dynamic over time. We investigate how to use agent technology to support the transaction over the Internet. In particular we propose a new automatic negotiation model. The novelty of this agent-based negotiation model includes the capability of bargaining on other product offers rather than only on the prices. The negotiation transactions are concurrently controlled and can be trusted by all authorised parties. This model will give all parties benefits of quick and safe trading