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| DOI | 10.1287/OPRE.1080.0653 | ||||
| Año | 2009 | ||||
| Tipo | artículo de investigación |
Citas Totales
Autores Afiliación Chile
Instituciones Chile
% Participación
Internacional
Autores
Afiliación Extranjera
Instituciones
Extranjeras
Our goal is to determine to what extent these systems can benefit from some form of coordination or regulation. We measure the quality of the outcome of the game without centralized control by computing the worst-case inefficiency of Nash equilibria. The main conclusion is that although self-interested competitors will not achieve a fully efficient solution from the system's point of view, the loss is not too severe. We show how to compute several bounds for the worst-case inefficiency that depend on the characteristics of cost functions and on the market structure in the game. In addition, building upon the work of Catoni and Pallotino, we show examples in which market aggregation (or collusion) adversely impacts the aggregated competitors, even though their market power increases. For example, Nash equilibria of atomic network games may be less efficient than the corresponding Wardrop equilibria. When competitors are completely symmetric, we provide a characterization of the Nash equilibrium using a potential function, and prove that this counterintuitive phenomenon does not arise. Finally, we study a pricing mechanism that elicits more coordination from the players by reducing the worst-case inefficiency of Nash equilibria.
| Ord. | Autor | Género | Institución - País |
|---|---|---|---|
| 1 | COMINETTI-COTTI-COMETTI, ROBERTO MARIO | Hombre |
Universidad de Chile - Chile
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| 2 | CORREA-FONTECILLA, JOSE RAFAEL | Hombre |
Universidad de Chile - Chile
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| 3 | Stier-Moses, Nicolas E. | Hombre |
Columbia Univ - Estados Unidos
Columbia University in the City of New York - Estados Unidos Columbia University - Estados Unidos |
| Fuente |
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| FONDEYT |
| Instituto Milenio SCI |
| CONICYT-Chile through grants Anillo en Redes |
| Center for International Business Education and Research (CIBER) at Columbia University |
| Center for Excellence in E-Business (CEBIZ) at Columbia University |
| FONDAP in Applied Mathematics (CONICYT-Chile) |
| Agradecimiento |
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| The authors thank two anonymous referees and Nicolas Figueroa, Andreas Schulz, and Gabriel Weintraub for useful comments that helped them to improve the paper. The research of the first author was partially supported by FONDAP in Applied Mathematics (CONICYT-Chile) and Instituto Milenio SCI (P05-004F). The research of the second author was partially supported by CONICYT-Chile through grants Anillo en Redes ACT08 and FONDEYT 1060035, and the research of the third author was partially supported by the Center for International Business Education and Research (CIBER) and by the Center for Excellence in E-Business (CEBIZ), both at Columbia University. An extended abstract of this article appears in ICALP 2006 (Cominetti et al. 2006). |