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- Price_of_anarchy abstract "The Price of Anarchy (PoA) is a concept in economics and game theory that measures how the efficiency of a system degrades due to selfish behavior of its agents. It is a general notion that can be extended to diverse systems and notions of efficiency. For example, consider the system of transportation of a city and many agents trying to go from some initial location to a destination. Let efficiency in this case mean the average time for an agent to reach the destination. In the 'centralized' solution, a central authority can tell each agent which path to take in order to minimize the average travel time. In the 'decentralized' version, each agent chooses its own path. The Price of Anarchy measures the ratio between average travel time in the two cases.Usually the system is modeled as a game and the efficiency is some function of the outcomes (e.g. maximum delay in a network, congestion in a transportation system, social welfare in an auction, ...). Different concepts of equilibrium can be used to model the selfish behavior of the agents, among which the most common is the Nash equilibrium. Different flavors of Nash equilibrium lead to variations of the notion of Price of Anarchy as Pure Price of Anarchy (for deterministic equilibria), Mixed Price of Anarchy (for randomized equilibria), and Bayes-Nash Price of Anarchy (for games with incomplete information). Solution concepts other than Nash equilibrium lead to variations such as the Price of Sinking.The term Price of Anarchy was first used by Koutsoupias and Papadimitriou, but the idea of measuring inefficiency of equilibrium is older. The concept in its current form was designed to be the analogue of the 'approximation ratio' in an approximation algorithm or the 'competitive ratio' in an online algorithm. This is in the context of the current trend of analyzing games using algorithmic lenses (algorithmic game theory).".
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- Price_of_anarchy wikiPageRevisionID "702597249".
- Price_of_anarchy wikiPageWikiLink Algorithmic_game_theory.
- Price_of_anarchy wikiPageWikiLink Approximation_algorithm.
- Price_of_anarchy wikiPageWikiLink Cambridge_University_Press.
- Price_of_anarchy wikiPageWikiLink Category:Game_theory.
- Price_of_anarchy wikiPageWikiLink Economic_efficiency.
- Price_of_anarchy wikiPageWikiLink Economics.
- Price_of_anarchy wikiPageWikiLink Game.
- Price_of_anarchy wikiPageWikiLink Game_theory.
- Price_of_anarchy wikiPageWikiLink MIT_Press.
- Price_of_anarchy wikiPageWikiLink Makespan.
- Price_of_anarchy wikiPageWikiLink Nash_equilibrium.
- Price_of_anarchy wikiPageWikiLink Noam_Nisan.
- Price_of_anarchy wikiPageWikiLink Online_algorithm.
- Price_of_anarchy wikiPageWikiLink Prisoners_dilemma.
- Price_of_anarchy wikiPageWikiLink Social_cost.
- Price_of_anarchy wikiPageWikiLink Strategy_(game_theory).
- Price_of_anarchy wikiPageWikiLink Tim_Roughgarden.
- Price_of_anarchy wikiPageWikiLink Tragedy_of_the_commons.
- Price_of_anarchy wikiPageWikiLink Vijay_Vazirani.
- Price_of_anarchy wikiPageWikiLink Éva_Tardos.
- Price_of_anarchy wikiPageWikiLinkText "Price of anarchy".
- Price_of_anarchy wikiPageWikiLinkText "price of anarchy".
- Price_of_anarchy wikiPageUsesTemplate Template:Cite_book.
- Price_of_anarchy wikiPageUsesTemplate Template:Main.
- Price_of_anarchy subject Category:Game_theory.
- Price_of_anarchy hypernym Concept.
- Price_of_anarchy type Redirect.
- Price_of_anarchy comment "The Price of Anarchy (PoA) is a concept in economics and game theory that measures how the efficiency of a system degrades due to selfish behavior of its agents. It is a general notion that can be extended to diverse systems and notions of efficiency. For example, consider the system of transportation of a city and many agents trying to go from some initial location to a destination. Let efficiency in this case mean the average time for an agent to reach the destination.".
- Price_of_anarchy label "Price of anarchy".
- Price_of_anarchy sameAs Q7242623.
- Price_of_anarchy sameAs Precio_de_la_anarquía.
- Price_of_anarchy sameAs מחיר_האנרכיה.
- Price_of_anarchy sameAs m.043pr6t.
- Price_of_anarchy sameAs Q7242623.
- Price_of_anarchy wasDerivedFrom Price_of_anarchy?oldid=702597249.
- Price_of_anarchy isPrimaryTopicOf Price_of_anarchy.