Invited talk: Cooperative Game Theory and Water Resources Management: Contributions and Challenges

Monday, May 5, 2014, 2:00pm – 3:00pm
Presented by Kaveh Madani
Located in TBD
In track CoopMAS2014

Managing water resources often involves conflicts. Maximization of individual gains by water resource beneficiaries based on self-interest in non-cooperative environments creates major externalities, affecting the health of the resource and the overall gains of its users. The existing water resource literature promotes developing social planner solutions that maximize the total gains of the system based on group rationality. However, less attention has been paid to the practical aspect of implementing social planner solutions that assume perfect cooperation among water users, who in reality would normally base their decisions on individual rationality. Cooperative game theory provides an appropriate and practical basis for designing and implementing water management mechanisms that make system-wide optimal solutions practical. Cooperative game theory methods help developing solutions that are both optimal from the system’s perspective and acceptable based on self-interests. Through different examples of water resource management problems, this presentation will discuss how cooperative game theory methods can contribute to sustainable and efficient management of water resources. The presentation will also call for methodological game theoretic contributions to solve particular water management problems require more attention.