Sequential multilateral search for a common goal

Motivated by applications in Dynamic Spectrum Access Networks, we focus on a system in which a few agents are engaged in a costly individual search where each agent's benefit is determined according to the minimum obtained value. Such a search pattern is applicable to many systems, including shipment and travel planning. This paper formally introduces and analyzes a sequential variant of the general model. According to that variant, only a single agent searches at any given time, and when an agent initiates its search, it has complete information about the minimum value obtained by the other agents so far.We prove that the search strategy of each agent, according to the equilibrium of the resulting Stackelberg game, is reservation-value based, and show how the reservation values can be calculated. We also analyze the agents' optimal search strategies when they are fully cooperative (i.e., when they aim to maximize the expected joint benefit). The equilibrium strategies and the expected benefit of each agent are illustrated using a synthetic homogeneous environment, thereby demonstrating the properties of this new search scheme and the benefits of cooperation.