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Evolutionary implementation and congestion pricing

Listed author(s):
  • Sandholm,W.H.

    (University of Wisconsin-Madison, Social Systems Research Institute)

We consider an implementation problem faced by a planner who manages a roadway network. The problem entails both hidden information and hidden actions. We solve the planner's problem by introducing a new class of mechanisms and a new notion of implementation. The mechanisms, called price schemes, attach transfers to the available routes; they do not involve direct revelation. The method of implementation is evolutionary, requiring that players who follow any reasonable myopic adjustment process eventually learn to behave as the planner desires. We show that efficient behaviour can be guaranteed using simple, decentralized price schemes. Copyright 2002, Wiley-Blackwell.

(This abstract was borrowed from another version of this item.)

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File URL: http://www.ssc.wisc.edu/~whs/research/ei.pdf
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Paper provided by Wisconsin Madison - Social Systems in its series Working papers with number 38.

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Date of creation: 1999
Handle: RePEc:att:wimass:199938
Contact details of provider: Postal:
UNIVERSITY OF WISCONSIN MADISON, SOCIAL SYSTEMS RESEARCH INSTITUTE(S.S.R.I.), MADISON WISCONSIN 53706 U.S.A.

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  2. Shenker, Scott & Clark, David & Estrin, Deborah & Herzog, Shai, 1996. "Pricing in computer networks: Reshaping the research agenda," Telecommunications Policy, Elsevier, vol. 20(3), pages 183-201, April.
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  4. Sandholm, William H., 2001. "Potential Games with Continuous Player Sets," Journal of Economic Theory, Elsevier, vol. 97(1), pages 81-108, March.
  5. Antonio Cabrales & Giovanni Ponti, 2000. "Implementation, Elimination of Weakly Dominated Strategies and Evolutionary Dynamics," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 3(2), pages 247-282, April.
  6. Abreu Dilip & Matsushima Hitoshi, 1994. "Exact Implementation," Journal of Economic Theory, Elsevier, vol. 64(1), pages 1-19, October.
  7. Schlag, Karl H., 1998. "Why Imitate, and If So, How?, : A Boundedly Rational Approach to Multi-armed Bandits," Journal of Economic Theory, Elsevier, vol. 78(1), pages 130-156, January.
  8. De Trenqualye, Pierre, 1988. "Stability of the Groves and Ledyard mechanism," Journal of Economic Theory, Elsevier, vol. 46(1), pages 164-171, October.
  9. Jordan, J. S., 1986. "Instability in the implementation of Walrasian allocations," Journal of Economic Theory, Elsevier, vol. 39(2), pages 301-328, August.
  10. de Trenqualye, Pierre, 1989. "Stable implementation of Lindahl allocations," Economics Letters, Elsevier, vol. 29(4), pages 291-294.
  11. Robert Aumann & Adam Brandenburger, 2014. "Epistemic Conditions for Nash Equilibrium," World Scientific Book Chapters,in: The Language of Game Theory Putting Epistemics into the Mathematics of Games, chapter 5, pages 113-136 World Scientific Publishing Co. Pte. Ltd..
  12. Cabrales, Antonio, 1999. "Adaptive Dynamics and the Implementation Problem with Complete Information," Journal of Economic Theory, Elsevier, vol. 86(2), pages 159-184, June.
  13. Mackie-Mason, J.K. & Varian, H.R., 1993. "Pricing the Internet," Memorandum 20/1993, Oslo University, Department of Economics.
  14. Myerson, Roger B., 1982. "Optimal coordination mechanisms in generalized principal-agent problems," Journal of Mathematical Economics, Elsevier, vol. 10(1), pages 67-81, June.
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  16. Edward Clarke, 1971. "Multipart pricing of public goods," Public Choice, Springer, vol. 11(1), pages 17-33, September.
  17. Walker, Mark, 1984. "A simple auctioneerless mechanism with Walrasian properties," Journal of Economic Theory, Elsevier, vol. 32(1), pages 111-127, February.
  18. Cremer, Jacques & Hariton, Cyril, 1999. "The Pricing of Critical Applications in the Internet," Journal of the Japanese and International Economies, Elsevier, vol. 13(4), pages 281-310, December.
  19. Jorgen W. Weibull, 1997. "Evolutionary Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262731215, January.
  20. Arnott, Richard & de Palma, Andre & Lindsey, Robin, 1993. "A Structural Model of Peak-Period Congestion: A Traffic Bottleneck with Elastic Demand," American Economic Review, American Economic Association, vol. 83(1), pages 161-179, March.
  21. Small, Kenneth A. & Gomez-Ilbanez, Jose A., 1998. "Road Pricing for Congestion Management: The Transition from Theory to Policy," University of California Transportation Center, Working Papers qt8kk909p1, University of California Transportation Center.
  22. William Vickrey, 1961. "Counterspeculation, Auctions, And Competitive Sealed Tenders," Journal of Finance, American Finance Association, vol. 16(1), pages 8-37, 03.
  23. Vickrey, William S, 1969. "Congestion Theory and Transport Investment," American Economic Review, American Economic Association, vol. 59(2), pages 251-260, May.
  24. Groves, Theodore, 1973. "Incentives in Teams," Econometrica, Econometric Society, vol. 41(4), pages 617-631, July.
  25. Monderer, Dov & Shapley, Lloyd S., 1996. "Potential Games," Games and Economic Behavior, Elsevier, vol. 14(1), pages 124-143, May.
  26. Vega-Redondo, Fernando, 1989. "Implementation of Lindahl equilibrium: an integration of the static and dynamic approaches," Mathematical Social Sciences, Elsevier, vol. 18(3), pages 211-228, December.
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