Transport selection mechanisms are designed to facilitate seamless connectivity in heterogeneous multi-transport environments, allowing access to the “best” available transport according to user requirements. Evaluating transport configurations dynamically according to the user’s preferences and Quality of Service (QoS) requirements is a challenging task. This paper describes a quantitative approach that applies the Utility Theorem and Nash’s Bargaining solution to heterogeneous wireless environments. The mathematical model presented generates and adjusts the transport preference list dynamically depending on the degree to which a transport satisfies user preferences and the application’s QoS requirements. We incorporate a negotiation engine using the Axiomatic Multi-Transport Bargaining algorithm to integrate local and remote users’ requirements in a mutually beneficial manner as devices are connected via a peer-to-peer link. The transport selection model discussed in this paper is computationally light with modest communication overhead, making it suitable for mobile devices.