In this paper we are interested in the decision problem faced by an
agent when requesting bids for collections of tasks with complex time
constraints and interdependencies. In particular, we study the problem
of specifying an appropriate schedule for the tasks in the request for
bids. We expect bids to require resource commitments, so we expect
different settings of time windows to solicit different bids and
different costs. The agent is interested in soliciting
“desirable” bids, where desirable means bids that can be
feasibly combined in a low-cost combination that covers the entire
collection of tasks. Since the request for bids has to be issued before
the agent can see any bids, in this decision process there is a
probability of loss as well as a probability of gain. This requires the
decision process to deal with the risk posture of the person or
organization on whose behalf the agent is acting. We describe a model
based on Expected Utility Theory and show how an agent can attempt to
maximize its profits while managing its financial risk exposure. We
illustrate the operation and properties of the model and discuss what
assumptions are required for its successful integration in multiagent
contracting applications.