Evolutionary dynamics and equitable core selection in assignment games
We study evolutionary dynamics in assignment games where many agents interact anonymously at virtually no cost. The process is decentralized, very little information is available and trade takes place at many different prices simultaneously. We propose a completely uncoupled learning process that...
| Main Authors: | , |
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| Format: | Working paper |
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University of Oxford
2012
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| _version_ | 1797058047812567040 |
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| author | Nax, H Pradelski, B |
| author_facet | Nax, H Pradelski, B |
| author_sort | Nax, H |
| collection | OXFORD |
| description | We study evolutionary dynamics in assignment games where many agents interact anonymously at virtually no cost. The process is decentralized, very little information is available and trade takes place at many different prices simultaneously. We propose a completely uncoupled learning process that selects a subset of the core of the game with a natural equity interpretation. This happens even though agents have no knowledge of other agents' strategies, payoffs, or the structure of the game, and there is no central authority with such knowledge either. In our model, agents randomly encounter other agents, make bids and offers for potential partnerships and match if the partnerships are profitable. Equity is favored by our dynamics beause it is more stable, not because of any ex ante fairness criterion. |
| first_indexed | 2024-03-06T19:45:04Z |
| format | Working paper |
| id | oxford-uuid:2200fef8-b575-4e41-85dc-2e47b3fc9401 |
| institution | University of Oxford |
| last_indexed | 2024-03-06T19:45:04Z |
| publishDate | 2012 |
| publisher | University of Oxford |
| record_format | dspace |
| spelling | oxford-uuid:2200fef8-b575-4e41-85dc-2e47b3fc94012022-03-26T11:36:26ZEvolutionary dynamics and equitable core selection in assignment gamesWorking paperhttp://purl.org/coar/resource_type/c_8042uuid:2200fef8-b575-4e41-85dc-2e47b3fc9401Bulk import via SwordSymplectic ElementsUniversity of Oxford2012Nax, HPradelski, BWe study evolutionary dynamics in assignment games where many agents interact anonymously at virtually no cost. The process is decentralized, very little information is available and trade takes place at many different prices simultaneously. We propose a completely uncoupled learning process that selects a subset of the core of the game with a natural equity interpretation. This happens even though agents have no knowledge of other agents' strategies, payoffs, or the structure of the game, and there is no central authority with such knowledge either. In our model, agents randomly encounter other agents, make bids and offers for potential partnerships and match if the partnerships are profitable. Equity is favored by our dynamics beause it is more stable, not because of any ex ante fairness criterion. |
| spellingShingle | Nax, H Pradelski, B Evolutionary dynamics and equitable core selection in assignment games |
| title | Evolutionary dynamics and equitable core selection in assignment games |
| title_full | Evolutionary dynamics and equitable core selection in assignment games |
| title_fullStr | Evolutionary dynamics and equitable core selection in assignment games |
| title_full_unstemmed | Evolutionary dynamics and equitable core selection in assignment games |
| title_short | Evolutionary dynamics and equitable core selection in assignment games |
| title_sort | evolutionary dynamics and equitable core selection in assignment games |
| work_keys_str_mv | AT naxh evolutionarydynamicsandequitablecoreselectioninassignmentgames AT pradelskib evolutionarydynamicsandequitablecoreselectioninassignmentgames |