An Equilibrium Analysis of Scrip Systems-Reference-Cited by-同舟云学术

An Equilibrium Analysis of Scrip Systems

Published:2015-06-23 Issue:3 Volume:3 Page:1-32
ISSN:2167-8375
Container-title:ACM Transactions on Economics and Computation
language:en
Short-container-title:ACM Trans. Econ. Comput.

Author:

Kash Ian A.¹,Friedman Eric J.²,Halpern Joseph Y.³

Affiliation:

1. Microsoft Research, Cambridge, U.K

2. University of California, Berkeley

3. Cornell University, Ithaca, NY

Abstract

A game-theoretic model of scrip (artificial currency) systems is analyzed. It is shown that relative entropy can be used to characterize the distribution of agent wealth when all agents use threshold strategies —that is, they volunteer to do work if and only if they have below a threshold amount of money. Monotonicity of agents' best-reply functions is used to show that scrip systems have pure strategy equilibria where all agents use threshold strategies. An algorithm is given that can compute such an equilibrium and the resulting distribution of wealth.

Funder

DoD Multidisciplinary University Research Initiative (MURI) program administered by the ONR

ONR

NSF

AFOSR

Publisher

Association for Computing Machinery (ACM)

Subject

Computational Mathematics,Marketing,Economics and Econometrics,Statistics and Probability,Computer Science (miscellaneous)

Link

https://dl.acm.org/doi/pdf/10.1145/2659006

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2. Peer-assisted content distribution with prices

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