☆ 4.7 Article

Rational Behavior in Dynamic Multicriteria Games

MATHEMATICS (2020)

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Summary: This paper presents a new approach to construct cooperative behavior in dynamic multicriteria games with asymmetric players by combining the ideas of multi-objective optimization and game theory. The concepts of multicriteria Nash equilibrium and multicriteria cooperative equilibrium are introduced by adopting the bargaining solution and applying a compromise scheme that guarantees the fulfillment of rationality conditions. The paper also considers the dynamic stability concept for dynamic multicriteria games and presents a time-consistent payoff distribution procedure. A dynamic bi-criteria bioresource management problem is discussed to illustrate the strategies and payoffs of players under cooperative and noncooperative behavior.

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