How Long to Pareto Efficiency?
AbstractWe consider uncoupled dynamics (i.e., dynamics where each player knows only his own payoff function) that reach Pareto efficient and individually rational outcomes. We prove that the number of periods it takes is in the worst case exponential in the number of players.
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Bibliographic InfoPaper provided by The Center for the Study of Rationality, Hebrew University, Jerusalem in its series Discussion Paper Series with number dp562.
Length: 12 pages
Date of creation: Oct 2010
Date of revision:
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- Pradelski, Bary S.R. & Young, H. Peyton, 2012. "Learning efficient Nash equilibria in distributed systems," Games and Economic Behavior, Elsevier, vol. 75(2), pages 882-897.
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