scholarly journals Bounded Incentives in Manipulating the Probabilistic Serial Rule

2020 ◽  
Vol 34 (02) ◽  
pp. 2276-2283
Author(s):  
Zihe Wang ◽  
Zhide Wei ◽  
Jie Zhang
Keyword(s):  
Complete Information ◽  
Response Strategy ◽  
Individual Agent ◽  
Worst Case ◽  
Incentive Compatible ◽  
Best Response ◽  
Strategic Manipulation ◽  
Utility Gain ◽  
Serial Rule ◽  
Random Assignment Problem

The Probabilistic Serial mechanism is well-known for its desirable fairness and efficiency properties. It is one of the most prominent protocols for the random assignment problem. However, Probabilistic Serial is not incentive-compatible, thereby these desirable properties only hold for the agents' declared preferences, rather than their genuine preferences. A substantial utility gain through strategic behaviors would trigger self-interested agents to manipulate the mechanism and would subvert the very foundation of adopting the mechanism in practice. In this paper, we characterize the extent to which an individual agent can increase its utility by strategic manipulation. We show that the incentive ratio of the mechanism is 3/2. That is, no agent can misreport its preferences such that its utility becomes more than 1.5 times of what it is when reports truthfully. This ratio is a worst-case guarantee by allowing an agent to have complete information about other agents' reports and to figure out the best response strategy even if it is computationally intractable in general. To complement this worst-case study, we further evaluate an agent's utility gain on average by experiments. The experiments show that an agent' incentive in manipulating the rule is very limited. These results shed some light on the robustness of Probabilistic Serial against strategic manipulation, which is one step further than knowing that it is not incentive-compatible.

scholarly journals Bidding in Smart Grid PDAs: Theory, Analysis and Strategy

2020 ◽  
Vol 34 (02) ◽  
pp. 1974-1981
Author(s):  
Susobhan Ghosh ◽  
Sujit Gujar ◽  
Praveen Paruchuri ◽  
Easwar Subramanian ◽  
Sanjay Bhat
Keyword(s):  
Smart Grids ◽  
Complete Information ◽  
Equilibrium Analysis ◽  
Equilibrium Strategy ◽  
Double Auction ◽  
Single Shot ◽  
Wholesale Market ◽  
Bidding Strategies ◽  
Double Auctions ◽  
Best Response

Periodic Double Auctions (PDAs) are commonly used in the real world for trading, e.g. in stock markets to determine stock opening prices, and energy markets to trade energy in order to balance net demand in smart grids, involving trillions of dollars in the process. A bidder, participating in such PDAs, has to plan for bids in the current auction as well as for the future auctions, which highlights the necessity of good bidding strategies. In this paper, we perform an equilibrium analysis of single unit single-shot double auctions with a certain clearing price and payment rule, which we refer to as ACPR, and find it intractable to analyze as number of participating agents increase. We further derive the best response for a bidder with complete information in a single-shot double auction with ACPR. Leveraging the theory developed for single-shot double auction and taking the PowerTAC wholesale market PDA as our testbed, we proceed by modeling the PDA of PowerTAC as an MDP. We propose a novel bidding strategy, namely MDPLCPBS. We empirically show that MDPLCPBS follows the equilibrium strategy for double auctions that we previously analyze. In addition, we benchmark our strategy against the baseline and the state-of-the-art bidding strategies for the PowerTAC wholesale market PDAs, and show that MDPLCPBS outperforms most of them consistently.

scholarly journals Biased-Belief Equilibrium

2020 ◽  
Vol 12 (2) ◽  
pp. 1-40 ◽  
Author(s):  
Yuval Heller ◽  
Eyal Winter
Keyword(s):  
Equilibrium Condition ◽  
Belief Function ◽  
Response Strategy ◽  
Best Response ◽  
Distortion Functions ◽  
Best Responses

We investigate how distorted, yet structured, beliefs can persist in strategic situations. Specifically, we study two-player games in which each player is endowed with a biased-belief function that represents the discrepancy between a player’s beliefs about the opponent’s strategy and the actual strategy. Our equilibrium condition requires that (i) each player choose a best-response strategy to his distorted belief about the opponent’s strategy, and (ii) the distortion functions form best responses to one another. We obtain sharp predictions and novel insights into the set of stable outcomes and their supporting stable biases in various classes of games. (JEL C73, D83)

scholarly journals COMPREHENSIVE RISK MANAGEMENT USING FUZZY FMEA AND MCDA TECHNIQUES IN HIGHWAY CONSTRUCTION PROJECTS

2016 ◽  
Vol 23 (2) ◽  
pp. 300-310 ◽  
Author(s):  
Mohsen AHMADI ◽  
Kourosh BEHZADIAN ◽  
Abdollah ARDESHIR ◽  
Zoran KAPELAN
Keyword(s):  
Construction Projects ◽  
Fuzzy Ahp ◽  
Highway Construction ◽  
Response Strategy ◽  
Construction Technology ◽  
Risk Response ◽  
Best Response ◽  
Fuzzy Fmea ◽  
Target Values ◽  
Risk Event

This paper presents a comprehensive framework to manage the main risk events of highway construction pro­jects within three stages: (1) identification of potential risks; (2) assessment and prioritisation of identified risks based on fuzzy FMEA; (3) identification of appropriate response. The main criteria analysed for prioritising potential risk events are cost, time and quality which are quantified and combined using fuzzy AHP. A new expert system is suggested for identifying an appropriate risk response strategy for a risk event based on risk factor, control number and risk alloca­tion. The best response action for a risk event is then identified with respect to the same criteria using “scope expected deviation” (SED) index. The proposed methodology is demonstrated for management of risk events in a construction project of Bijar-Zanjan highway in Iran. For the risk event of “increase in tar price”, deviation from the target values of the criteria is analysed for business-as-usual state plus two risk response actions using SED index. The results show that the response action of “changing paving construction technology from asphalt pavement to RCC pavement” can success­fully cope with the risk event of “increase in tar price” and have the minimum deviation.

scholarly journals A Multiagent Planning Approach for Cooperative Patrolling with Non-Stationary Adversaries

2017 ◽  
Vol 26 (05) ◽  
pp. 1760018 ◽  
Author(s):  
Aurélie Beynier
Keyword(s):  
Response Strategy ◽  
Planning Problem ◽  
Uncertain Environments ◽  
Illegal Fishing ◽  
Best Response ◽  
Planning Approach ◽  
History Of ◽  
Multiagent Planning ◽  
On Line ◽  
Over Time

Multiagent patrolling is the problem faced by a set of agents that have to visit a set of sites to prevent or detect some threats or illegal actions. Although it is commonly assumed that patrollers share a common objective, the issue of cooperation between the patrollers has received little attention. Over the last years, the focus has been put on patrolling strategies to prevent a one-shot attack from an adversary. This adversary is usually assumed to be fully rational and to have full observability of the system. Most approaches are then based on game theory and consists in computing a best response strategy. Nonetheless, when patrolling frontiers, detecting illegal fishing or poaching; patrollers face multiple adversaries with limited observability and rationality. Moreover, adversaries can perform multiple illegal actions over time and space and may change their strategies as time passes. In this paper, we propose a multiagent planning approach that enables effective cooperation between a team of patrollers in uncertain environments. Patrolling agents are assumed to have partial observability of the system. Our approach allows the patrollers to learn a generic and stochastic model of the adversaries based on the history of observations. A wide variety of adversaries can thus be considered with strategies ranging from random behaviors to fully rational and informed behaviors. We show that the multiagent planning problem can be formalized by a non-stationary DEC- POMDP. In order to deal with the non-stationary, we introduce the notion of context. We then describe an evolutionary algorithm to compute patrolling strategies on-line, and we propose methods to improve the patrollers’ performance.

scholarly journals The Price of Anarchy in Auctions

2017 ◽  
Vol 59 ◽  
pp. 59-101 ◽  
Author(s):  
Tim Roughgarden ◽  
Vasilis Syrgkanis ◽  
Eva Tardos
Keyword(s):  
Learning Outcomes ◽  
Price Of Anarchy ◽  
Complete Information ◽  
Worst Case ◽  
Extension Theorems ◽  
Complex Settings ◽  
User Friendly ◽  
Auction Formats ◽  
Analytical Tools ◽  
Special Case

This survey outlines a general and modular theory for proving approximation guarantees for equilibria of auctions in complex settings. This theory complements traditional economic techniques, which generally focus on exact and optimal solutions and are accordingly limited to relatively stylized settings. We highlight three user-friendly analytical tools: smoothness-type inequalities, which immediately yield approximation guarantees for many auction formats of interest in the special case of complete information and deterministic strategies; extension theorems, which extend such guarantees to randomized strategies, no-regret learning outcomes, and incomplete-information settings; and composition theorems, which extend such guarantees from simpler to more complex auctions. Combining these tools yields tight worst-case approximation guarantees for the equilibria of many widely-used auction formats.

Incomplete information and iterated strict dominance

2020 ◽  
Author(s):  
Christian W Bach ◽  
Andrés Perea
Keyword(s):  
Incomplete Information ◽  
Solution Concept ◽  
Complete Information ◽  
Common Belief ◽  
Person Perspective ◽  
Response Sets ◽  
Best Response ◽  
Necessary And Sufficient

Abstract The solution concept of iterated strict dominance for static games with complete information recursively deletes choices that are inferior. Here, we devise such an algorithm for the more general case of incomplete information. The ensuing solution concept of generalized iterated strict dominance is characterized in terms of common belief in rationality as well as in terms of best response sets. Besides, we provide doxastic conditions that are necessary and sufficient for modelling complete information from a one-person perspective.

scholarly journals USING THE SELECTION GUIDE FOR SPILL COUNTERMEASURES TECHNOLOGIES IN RESPONSE DECISION MAKING AND PLANNING

2001 ◽  
Vol 2001 (2) ◽  
pp. 797-803 ◽  
Author(s):  
Debra Scholz ◽  
John Boyd ◽  
Ann Hayward Walker ◽  
Jacqueline Michel
Keyword(s):  
Work Group ◽  
Technical Information ◽  
Decision Makers ◽  
Response Strategy ◽  
Effective Response ◽  
Product Categories ◽  
Additional Information ◽  
Best Response ◽  
Response Team ◽  
Pre Treatment

ABSTRACT As part of national response priorities, On-Scene Coordinators (OSCs) and Incident Commanders should use all appropriate containment and removal tactics, including the use of products listed on the National Contingency Plan (NCP) Product Schedule, in a coordinated manner to ensure a timely, effective response that minimizes adverse impacts to the environment (40 CFR § 300.317). To facilitate greater understanding of these products and technologies, a Selection Guide was developed to evaluate their potential benefits and identify appropriate situations for their use. Although the NCP Product Schedule and Notebook provide information on regulated spill response products, the decision maker needs additional information presented clearly in a concise format that clarifies how these products can affect the spilled oil and the environment once applied. The Selection Guide provides a spill response tool that gives OSCs and other decision makers an easy-to-use source of technical information on spill response countermeasures that are regulated by the NCP, including alternate sorbents, bioremediation agents, dispersants, elasticity modifiers, emulsion treating agents, in situ burning on land and on water, shoreline pre-treatment agents, solidifiers, surface-collecting agents (herders), surface-washing agents, and firefighting foams, as well as potential response strategies for “unusual” spill response conditions (i.e., fast-water booming strategies, non-floating oil strategies, and water intake monitoring). The Selection Guide facilitates easy comparison among product categories, as well as aids decision makers in determining the best response strategy or product for a particular issue that “traditional” response tools do not seem to address completely. The Selection Guide has been developed under the Work Plan of the Region III Spill Response Countermeasures Work Group, in cooperation with the Region IV Regional Response Team (RRT). This document is applicable for inland and coastal areas and is intended for use during actual spill incidents and pre-spill planning efforts. This information also assists decision makers in evaluating vendor requests to use their products.

scholarly journals Study of the Germination of Six Begonia Species as an Effort to Preserve Genetic Resources

2021 ◽  
Vol 13 (2) ◽  
pp. 222-229
Author(s):  
Cokorda Istri Meyga Semarayani ◽  
Ayyu Rahayu
Keyword(s):  
Ex Situ Conservation ◽  
Germination Rate ◽  
Seed Storage ◽  
Morphological Diversity ◽  
Petri Dish ◽  
Complete Information ◽  
Ex Situ ◽  
Best Response ◽  
Different Types ◽  
High Level

Begonia is an ornamental plant that has a high level of morphological diversity. Begonia propagation is mostly done vegetatively and very rarely to propagate sexually. Therefore, this study was conducted to determine the ability of six types of Begonia seeds to germinate. Six types of Begonia, namely B. x albopicta W. Bull 'Coral Rubra', B. gambutensis Ardi & D.C.Thomas, B. multistaminea Burt-Utley, B. nelumbifolia Schltdl. & Cham., B. ulmifolia Wild. and B. varipeltata D.C.Thomas. were grown in a petri dish and placed in a growth chamber with a temperature of 23.6 ℃, humidity of 74.5%, and a light intensity of 3,431 lux. The results showed that the different types of Begonia showed significant differences in all the parameters tested. B. nelumbifolia required 7.89 ± 0.18 days to germinate and is the fastest time than other types. The highest percentage of seed germination was also obtained by this species, amounting to 63.22%. In addition, B. nelumbifolia showed the best response to the germination rate coefficient, germination rate index, and germination index. This study revealed complete information about the germination of six types of Begonia. In addition, the ability to produced many seeds and the ease of germination made this plant have the potential to be cultivated through seeds. Furthermore, the information can be used as a basis for seed storage as an ex-situ conservation method to maintain genetic diversity.

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