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The price of fairness with the extended Perles-Maschler solution

Zhong, Feiming Tsinghua University Xie, Jinxing Tsinghua University Zhao, Xiaobo Tsinghua University

Optimization and Control mathscidoc:1611.27004

Math Meth Oper Res, 80, 2014
In Nash bargaining problem, due to fairness concerns of players, instead of maximizing the sum of utilities of all players, an implementable solution should satisfy some axioms or characterizations. Such a solution can result in the so-called price of fairness, because of the reduction in the sum of utilities of all players. An important issue is to quantify the system efficiency loss under axiomatic solutions through the price of fairness. Based on Perles–Maschler solution of two-player Nash bargaining problem, this paper deals with the extended Perles–Maschler solution of multi-player Nash bargaining problem.We give lower bounds of threemeasures of the system efficiency for this solution, and show that the lower bounds are asymptotically tight.
Bargaining problem, Perles–Maschler solution, Price of fairness
[ Download ] [ 2016-11-28 17:10:31 uploaded by jxie ] [ 574 downloads ] [ 0 comments ] 
@inproceedings{zhong,2014the,
  title={The price of fairness with the extended Perles-Maschler solution},
  author={Zhong, Feiming, Xie, Jinxing, and Zhao, Xiaobo},
  url={http://archive.ymsc.tsinghua.edu.cn/pacm_paperurl/20161128171031153301662},
  booktitle={Math Meth Oper Res},
  volume={80},
  year={2014},
}
Zhong, Feiming, Xie, Jinxing, and Zhao, Xiaobo. The price of fairness with the extended Perles-Maschler solution. 2014. Vol. 80. In Math Meth Oper Res. http://archive.ymsc.tsinghua.edu.cn/pacm_paperurl/20161128171031153301662.
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