Role of satisfaction in resource accumulation and profit allocation: A fuzzy game theoretic model

Simultaneous Resource Accumulation and Payoff Allocation: A Cooperative Fuzzy Game Approach

“…We introduce the notion of a penalty to restrict the irrational demands of the players. Our present model is seen to be efficient than the one discussed in [3] in situations where the allocation process does not continue for long rather than stopping at some intermediate stage as part of a trade-off. We modify the variance function of [3] and show that at an intermediate stage our solution is more efficient than that of the earlier model.…”

“…In the literature, cooperation among self-interested players under binding agreements has been well explained by the theory of crisp cooperative games. In [1][2][3] it is shown that players' satisfaction has the ability to set up a solution concept in a cooperative game which is easily computable through an algorithm. It is therefore important to take account of how coalitions are formed vis-à-vis and how the worth is allocated among participating players so that they are individually satisfied up to a desired level.…”

“…In this paper, we propose a dynamic process of accumulating resources from players and of finding a payoff allocation simultaneously under a cooperative fuzzy game theoretic environment. The preliminary works are done in [3]. Here we enhance the same model incorporating (a) the role of players in the intermediate steps of the negotiation process and (b) the notion of a penalty function that restrains the players from making unreasonable demands.…”

“…In our previous model [3], the problem of simultaneous resource and payoff allocation among participating players by a mediator is discussed under a dynamic setup. It shows that an exact resource versus payoff allocation matrix evolves as a solution to a minimization problem at each stage of the negotiation process.…”

“…In [2], a process of resource allocation of players is obtained in different cooperative actions with the formation of a fuzzy coalition structure. The key objective in [1][2][3] is to investigate the influence of individual satisfactions upon a payoff and resource allocations (i.e., how it can be used to arrive at a suitable payoff and resource distribution over time). The process of resource allocation (equivalently resource accumulation) is made here synonymous with the formation of a fuzzy coalition.…”