Construct · 1 fields · 2 citations

price of anarchy: a standalone construct

One name. One construct. A landmark on the map.

● anchor · algorithmic game theory Nearest construct by meaning·not indexed
price ofanarchy1 CONSTRUCTPrice of anarchyKOUTSOUPIAS · WORST EQM

A single standalone construct; nearby constructs are located against it in the Collider. Tap a field for its definition, unit, and measures.

Algorithmic game theory

How much efficiency is lost when agents act selfishly instead of being coordinated

The price of anarchy measures the inefficiency of self-interested behavior: it is the ratio between the social cost of the worst equilibrium a system can settle into and the cost of the best outcome a central planner could impose. Koutsoupias and Papadimitriou's 1999 Worst-case equilibria introduced the idea and the worst-case ratio, and Roughgarden and Tárdos's 2002 How bad is selfish routing? bounded it for network routing, showing selfish traffic is no worse than optimally routing twice the load. The referent is a quantitative efficiency-loss bound for equilibria of a game, and it has become the standard way to grade how costly decentralization is in routing, scheduling, and resource-allocation systems.[1][2]

Unit
The ratio of worst-equilibrium social cost to the optimal social cost
Recovery means
Not applicable
Measured by
Computed as the ratio of the worst Nash-equilibrium objective to the social optimum, bounded for a given class of games

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Nearby constructs

Braess's paradox3 fields · 4 citationsinvariant · one construct, three systemscost4 fields · 4 citationsjingle · one word, four constructsequilibrium4 fields · 4 citationsjingle · one word, four constructs

References

  1. Koutsoupias, E., & Papadimitriou, C. (1999). Worst-case equilibria. In STACS 99 (Lecture Notes in Computer Science, Vol. 1563, pp. 404–413). Springer. https://doi.org/10.1007/3-540-49116-3_38
  2. Roughgarden, T., & Tardos, É. (2002). How bad is selfish routing? Journal of the ACM, 49(2), 236–259. https://doi.org/10.1145/506147.506153

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