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


Boschetti, Fabio and Brede, Markus (2009) An information-based adaptive strategy for resource exploitation in competitive scenarios. Technological Forecasting and Social Change, 76, (4), 525-532. (doi:10.1016/j.techfore.2008.05.005).

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Description/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.

Item Type: Article
ISSNs: 0040-1625 (print)
Keywords: resource management, collective intelligence, sustainability, agent-based model, game theory
Subjects: G Geography. Anthropology. Recreation > GF Human ecology. Anthropogeography
Q Science > QA Mathematics > QA75 Electronic computers. Computer science
Divisions: Faculty of Physical Sciences and Engineering > Electronics and Computer Science > Agents, Interactions & Complexity
ePrint ID: 272851
Date Deposited: 26 Sep 2011 16:02
Last Modified: 27 Mar 2014 20:18
Publisher: Elsevier
Further Information:Google Scholar
ISI Citation Count:2
URI: http://eprints.soton.ac.uk/id/eprint/272851

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