scholarly journals Trading Votes for Votes. A Dynamic Theory

Econometrica ◽  
2019 ◽  
Vol 87 (2) ◽  
pp. 631-652 ◽  
Author(s):  
Alessandra Casella ◽  
Thomas Palfrey
Keyword(s):  
Finite Number ◽  
Finite Time ◽  
Condorcet Winner ◽  
Dynamic Theory ◽  
Preference Profile ◽  
Pareto Optimal ◽  
Positive Probability ◽  
Stable Allocation ◽  
Vote Trading

We develop a framework to study the dynamics of vote trading over multiple binary issues. We prove that there always exists a stable allocation of votes that is reachable in a finite number of trades, for any number of voters and issues, any separable preference profile, and any restrictions on the coalitions that may form. If at every step all blocking trades are chosen with positive probability, convergence to a stable allocation occurs in finite time with probability 1. If coalitions are unrestricted, the outcome of vote trading must be Pareto optimal, but unless there are three voters or two issues, it need not correspond to the Condorcet winner.

scholarly journals A Pareto Optimal Auction Mechanism for Carbon Emission Rights

2014 ◽  
Vol 2014 ◽  
pp. 1-7 ◽  
Author(s):  
Mingxi Wang ◽  
Mingrong Wang ◽  
Chuangyin Dang ◽  
Shouyang Wang
Keyword(s):  
Finite Number ◽  
Carbon Emission ◽  
Individual Rationality ◽  
Commercial Application ◽  
Pareto Optimal ◽  
Auction Mechanism ◽  
Optimal Auction ◽  
Auction Mechanisms ◽  
Pareto Efficient ◽  
Emission Rights

The carbon emission rights do not fit well into the framework of existing multi-item auction mechanisms because of their own unique features. This paper proposes a new auction mechanism which converges to a unique Pareto optimal equilibrium in a finite number of periods. In the proposed auction mechanism, the assignment outcome is Pareto efficient and the carbon emission rights’ resources are efficiently used. For commercial application and theoretical completeness, both discrete and continuous markets—represented by discrete and continuous bid prices, respectively—are examined, and the results show the existence of a Pareto optimal equilibrium under the constraint of individual rationality. With no ties, the Pareto optimal equilibrium can be further proven to be unique.

A method for approximating the probability functions of a Markov chain

1988 ◽  
Vol 25 (4) ◽  
pp. 808-814 ◽  
Author(s):  
Keith N. Crank
Keyword(s):  
Markov Chain ◽  
Differential Equations ◽  
Finite Number ◽  
Continuous Time ◽  
Finite Time ◽  
The State ◽  
Time Interval ◽  
Continuous Time Markov Chain ◽  
Finite Time Interval ◽  
System Of Differential Equations

This paper presents a method of approximating the state probabilities for a continuous-time Markov chain. This is done by constructing a right-shift process and then solving the Kolmogorov system of differential equations recursively. By solving a finite number of the differential equations, it is possible to obtain the state probabilities to any degree of accuracy over any finite time interval.

Towards Practical ABox Abduction in Large Description Logic Ontologies

2012 ◽  
Vol 8 (2) ◽  
pp. 1-33 ◽  
Author(s):  
Jianfeng Du ◽  
Guilin Qi ◽  
Yi-Dong Shen ◽  
Jeff Z. Pan
Keyword(s):  
Finite Number ◽  
Finite Time ◽  
Description Logic ◽  
Description Logics ◽  
Experimental Results ◽  
New Method ◽  
Standard Language ◽  
Minimal Sets

ABox abduction is an important reasoning facility in Description Logics (DLs). It finds all minimal sets of ABox axioms, called abductive solutions, which should be added to a background ontology to enforce entailment of an observation which is a specified set of ABox axioms. However, ABox abduction is far from practical by now because there lack feasible methods working in finite time for expressive DLs. To pave a way to practical ABox abduction, this paper proposes a new problem for ABox abduction and a new method for computing abductive solutions accordingly. The proposed problem guarantees finite number of abductive solutions. The proposed method works in finite time for a very expressive DL, , which underpins the W3C standard language OWL 2, and guarantees soundness and conditional completeness of computed results. Experimental results on benchmark ontologies show that the method is feasible and can scale to large ABoxes.

The Paradox of Vote Trading

1973 ◽  
Vol 67 (4) ◽  
pp. 1235-1247 ◽  
Author(s):  
William H. Riker ◽  
Steven J. Brams
Keyword(s):  
Stable Equilibrium ◽  
Pareto Optimal ◽  
External Cost ◽  
Optimal Allocations ◽  
Vote Trading ◽  
Pareto Optimal Allocations

Although, conventionally, vote trading in legislatures has been condemned as socially undesirable by both scholars and lay citizens, a recently popular school of scholarship has argued that vote trading improves the traders' welfare in the direction of Pareto-optimal allocations. This essay is an attempt to reconcile the disagreement by showing formally that vote trading does improve the position of the traders but that at the same time trading may impose an external cost on nontraders. In sum, it turns out that sporadic and occasional trading is probably socially beneficial but that systematic trading may engender a paradox of vote trading. This paradox has the property that, while trading is immediately advantageous for the traders, still, when everybody trades, everybody is worse off. Furthermore, vote trading may not produce a stable equilibrium that is Pareto-optimal either for individual members or for coalitions of members.

scholarly journals Cloud-Supported Coverage Control for Persistent Surveillance Missions

2017 ◽  
Vol 139 (8) ◽  
Author(s):  
Jeffrey R. Peters ◽  
Sean J. Wang ◽  
Amit Surana ◽  
Francesco Bullo
Keyword(s):  
Motion Planning ◽  
Finite Time ◽  
Mobile Agents ◽  
Pareto Optimal ◽  
Coverage Control ◽  
Control Scheme ◽  
Multi Agent ◽  
Time Invariant ◽  
Modular Framework ◽  
Effective Pairing

A cloud-supported coverage control scheme is proposed for multi-agent, persistent surveillance missions. This approach decouples assignment from motion planning operations in a modular framework. Coverage assignments and surveillance parameters are managed on the cloud and transmitted to mobile agents via unplanned and asynchronous exchanges. These updates promote load-balancing, while also allowing effective pairing with typical path planners. Namely, when paired with a planner satisfying mild assumptions, the scheme ensures that (i) coverage regions remain connected and collectively cover the environment, (ii) regions may go uncovered only over bounded intervals, (iii) collisions (sensing overlaps) are avoided, and (iv) for time-invariant event likelihoods, a Pareto optimal configuration is produced in finite time. The scheme is illustrated in simulated missions.

PRODUCTION–INVENTORY MODEL FOR A DETERIORATING ITEM WITH IMPRECISE PREPARATION TIME FOR PRODUCTION IN A FINITE TIME HORIZON

2006 ◽  
Vol 23 (02) ◽  
pp. 171-192 ◽  
Author(s):  
N. K. MAHAPATRA ◽  
M. MAITI
Keyword(s):  
Finite Time ◽  
Time Horizon ◽  
Inventory Level ◽  
Pareto Optimal ◽  
Selling Price ◽  
Setup Cost ◽  
Preparation Time ◽  
Weighted Sum Method ◽  
Production Inventory ◽  
Finite Time Horizon

In this paper, realistic production-inventory models with shortages for a deteriorating item with imprecise preparation time for production (hereafter called preparation time) has been formulated and an inventory policy is proposed for maximum profit in a finite time horizon. Here, the rate of production is constant, demand depends on selling price, marketing cost, and inventory level, and setup cost depends on preparation time. The imprecise preparation time is assumed to be represented by a fuzzy number and is first transformed to a corresponding interval number and then following interval mathematics, the objective function for total profit over the finite time horizon is changed to respective multi-objective functions. These functions are maximized and solved for a set of Pareto optimal solution with the help of the weighted sum method using the generalized reduced gradient technique. Different case studies have been made depending upon the occurrence of shortages. The models have been illustrated by numerical data. Pareto-optimal solutions for different weights are obtained and presented in tables and graphs.

Stochastic Superiority Equilibrium in Game Theory

2021 ◽  
Author(s):  
Ali Yekkehkhany ◽  
Timothy Murray ◽  
Rakesh Nagi
Keyword(s):  
Game Theory ◽  
Nash Equilibrium ◽  
Finite Number ◽  
Expected Utility ◽  
Finite Time ◽  
Stochastic Games ◽  
Finite Games ◽  
Best Response ◽  
Random Payoffs ◽  
Definition Of

The definition of best response for a player in the Nash equilibrium is based on maximizing the expected utility given the strategy of the rest of the players in a game. In this work, we consider stochastic games, that is, games with random payoffs, in which a finite number of players engage only once or at most a limited number of times. In such games, players may choose to deviate from maximizing their expected utility. This is because maximizing expected utility strategy does not address the uncertainty in payoffs. We instead define a new notion of a stochastic superiority best response. This notion of best response results in a stochastic superiority equilibrium in which players choose to play the strategy that maximizes the probability of them being rewarded the most in a single round of the game rather than maximizing the expected received reward, subject to the actions of other players. We prove the stochastic superiority equilibrium to exist in all finite games, that is, games with a finite number of players and actions, and numerically compare its performance to Nash equilibrium in finite-time stochastic games. In certain cases, we show the payoff under the stochastic superiority equilibrium is 70% likely to be higher than the payoff under Nash equilibrium.

A method for approximating the probability functions of a Markov chain

1988 ◽  
Vol 25 (04) ◽  
pp. 808-814 ◽  
Author(s):  
Keith N. Crank
Keyword(s):  
Markov Chain ◽  
Differential Equations ◽  
Finite Number ◽  
Continuous Time ◽  
Finite Time ◽  
The State ◽  
Time Interval ◽  
Continuous Time Markov Chain ◽  
Finite Time Interval ◽  
System Of Differential Equations

This paper presents a method of approximating the state probabilities for a continuous-time Markov chain. This is done by constructing a right-shift process and then solving the Kolmogorov system of differential equations recursively. By solving a finite number of the differential equations, it is possible to obtain the state probabilities to any degree of accuracy over any finite time interval.

The Paradox of Vote Trading: Effects of Decision Rules and Voting Strategies on Externalities

1975 ◽  
Vol 69 (3) ◽  
pp. 929-942 ◽  
Author(s):  
Eric M. Uslaner ◽  
J. Ronnie Davis
Keyword(s):  
Decision Rule ◽  
Decision Rules ◽  
Sufficient Conditions ◽  
Pareto Optimal ◽  
Simple Majority ◽  
Optimal Result ◽  
Simple Majority Rule ◽  
Optimal Learning ◽  
Vote Trading ◽  
Necessary And Sufficient

In an article, “The Paradox of Vote Trading,” (APSR 67 [December, 1973]) William H. Riker and Steven J. Brams have argued that systematic logrolling among all members of a legislature produces a paradox: While each trade is individually rational, the effects of externalities offset the potential gains from exchanging votes and each voter finds himself worse off than he would have been by voting sincerely. We extend the results of Riker and Brams to a unanimity decision rule and find that a paradox of vote trading holds for that decision rule as well as for simple majority rule. Under a unanimity rule, however, trades which would be collectively rational (i.e., which would produce a Pareto optimal result) are not individually rational; the non-trader is the beneficiary under such a decision rule. Finally, we pose the question Riker and Brams suggested: Is the paradox of vote trading inescapable? Except under very restrictive conditions, we find that it is. However, given certain assumptions about the distributions of individual utilities, we present proofs of the necessary and sufficient conditions for the Pareto optimality of vote trading and argue that in actual legislative situations, when vote trading is Pareto optimal, learning behavior should serve to extricate the members from the paradox of vote trading.

Some Contributions to the Theory of Near-Critical Bisexual Branching Processes

2007 ◽  
Vol 44 (02) ◽  
pp. 492-505
Author(s):  
M. Molina ◽  
M. Mota ◽  
A. Ramos
Keyword(s):  
Branching Process ◽  
Branching Processes ◽  
Sufficient Conditions ◽  
Positive Probability ◽  
Limit Laws ◽  
Bisexual Branching Processes ◽  
Probabilistic Evolution

We investigate the probabilistic evolution of a near-critical bisexual branching process with mating depending on the number of couples in the population. We determine sufficient conditions which guarantee either the almost sure extinction of such a process or its survival with positive probability. We also establish some limiting results concerning the sequences of couples, females, and males, suitably normalized. In particular, gamma, normal, and degenerate distributions are proved to be limit laws. The results also hold for bisexual Bienaymé–Galton–Watson processes, and can be adapted to other classes of near-critical bisexual branching processes.

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