An information-based adaptive strategy for resource exploitation in competitive scenarios

Authored by Markus Brede, Fabio Boschetti

Date Published: 2009-05

DOI: 10.1016/j.techfore.2008.05.005

Sponsors: No sponsors listed

Platforms: No platforms listed

Model Documentation: Other Narrative Mathematical description

Model Code URLs: Model code not found

Abstract

Given an exploitation problem, in which a number of agents compete for a limited renewable resource, the optimal harvesting strategy depends on the ratio between resource availability and exploitation effort. For scarce resource a purely competitive, greedy strategy outperforms a more collaborative approach based on the Collective Intelligence, while for more abundant resource the opposite holds. The rationale for this behaviour lies in the amount of information each strategy is able to provide and a combined strategy is possible according to which agents choose dynamically the most informative strategy according to a minimum entropy criterion. This approach, which provides best performance for both under and over-exploited scenarios, can be used to monitor the resource status for management purposes and is effective in both centralised and decentralised decision making. (C) 2008 Published by Elsevier Inc.

Tags

Agent-based model game theory Sustainability Resource management Collective intelligence