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The price of anarchy and stability in general noisy best-response dynamics

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  • Paolo Penna

    (ETH Zurich)

Abstract

Logit-response dynamics (Alós-Ferrer and Netzer in Games Econ Behav 68(2):413–427, 2010) are a rich and natural class of noisy best-response dynamics. In this work we revise the price of anarchy and the price of stability by considering the quality of long-run equilibria in these dynamics. Our results show that prior studies on simpler dynamics of this type can strongly depend on a sequential schedule of the players’ moves. In particular, a small noise by itself is not enough to improve the quality of equilibria as soon as other very natural schedules are used.

Suggested Citation

  • Paolo Penna, 2018. "The price of anarchy and stability in general noisy best-response dynamics," International Journal of Game Theory, Springer;Game Theory Society, vol. 47(3), pages 839-855, September.
    • Handle: RePEc:spr:jogath:v:47:y:2018:i:3:d:10.1007_s00182-017-0601-y
    DOI: 10.1007/s00182-017-0601-y
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