Non Myopic Collaborators (nearly) Get Their Way

Monday, May 5, 2014, 11:00am – 12:30pm
Presented by Yair Zick, Yoram Bachrach, Ian Kash, and Peter Key
Located in TBD
In track CoopMAS2014

We consider revenue division problems in iterative settings. In our model, a group of players has some initial resources, used in order to generate revenue. At every time-step, the revenue shares received at time t are player resources at time t + 1, and the game is repeated. The key issue here is that the way resources are shared has a dramatic effect on long-term social welfare, so in order to maximize individual long-term revenue one must consider the welfare of others, a behavior not captured by other models of cooperation among economic agents. Our work focuses on homogeneous production functions. We identify conditions that ensure that what players find best for themselves is “nearly” what is best for the group. We apply our results to some families of utility functions, and discuss their implication in these domains.