Paper Info
Title
The price of fairness with the extended Perles-Maschler solution.
Abstract
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 three measures of the system efficiency for this solution, and show that the lower bounds are asymptotically tight.
Year
DOI
Venue
2014
10.1007/s00186-014-0475-8
Math. Meth. of OR
Keywords
Field
DocType
bargaining problem,convexity,matrices
Mathematical optimization,Mathematical economics,Convexity,Matrix (mathematics),Axiom,Mathematics,Bargaining problem
Journal
Volume
Issue
ISSN
80
2
1432-5217
Citations 
PageRank 
References 
0
0.34
5
Authors
3
Name
Order
Citations
PageRank
Feimin Zhong100.34
Jinxing Xie228521.29
Xiaobo Zhao311716.07