Understand
Many real-world systems such as taxi systems, traffic networks and smart grids involve self-interested actors that perform individual tasks in a shared environment.
- However, in such systems, the self-interested behaviour of agents produces welfare inefficient and globally suboptimal outcomes that are detrimental to all - some common examples are congestion in traffic networks, demand spikes for resources in electricity grids and over-extraction of environmental resources such as fisheries.
- We propose an incentive-design method which modifies agents' rewards in non-cooperative multi-agent systems that results in independent, self-interested agents choosing actions that produce optimal system outcomes in strategic settings.
- Our framework combines multi-agent reinforcement learning to simulate (real-world) agent behaviour and black-box optimisation to determine the optimal modifications to the agents' rewards or incentives given some fixed budget that results in optimal system performance.
Reading the bibliography…