×

Resource pricing games on graphs: existence of Nash equilibria. (English) Zbl 1264.91028

Summary: We consider a non-cooperative resource pricing game on a graph where sellers (i.e., players) set the prices for their own resources to maximize the payoffs and buyers migrate to seek the least expensive resources. We present a model for the resource pricing game and prove the existence of Nash equilibria on regular and hierarchical graphs. The results obtained are applicable to the study of market economies, social networks and computer networks where individuals trade resources in a spatially extended environment.

MSC:

91A43 Games involving graphs
91A10 Noncooperative games
91A80 Applications of game theory
PDFBibTeX XMLCite
Full Text: DOI

References:

[1] Janssen M.A., Jager W.: Simulating market dynamics: interactions between consumer psychology and social networks. Artif. Life 9, 343–356 (2003) · doi:10.1162/106454603322694807
[2] Tesfatsion L.: Agent-based computational economics: Growing economies from the bottom up. Artif. Life 8, 55–82 (2002) · doi:10.1162/106454602753694765
[3] Boginski V., Butenko S., Pardalos P.M.: Mining market data: a network approach. Comput. Oper. Res. 33(11), 3171–3184 (2006) · Zbl 1113.90079 · doi:10.1016/j.cor.2005.01.027
[4] Boginski V., Butenko S., Pardalos P.M.: Statistical analysis of financial networks. Comput. Stat. Data Anal. 48(2), 431–443 (2005) · Zbl 1429.62460 · doi:10.1016/j.csda.2004.02.004
[5] Boginski V., Butenko S., Pardalos P.M.: On structural properties of the market graph. In: Nagurney, A. (eds) Innovations in Financial and Economic Networks, pp. 28–45. Edward Elgar Publishing, Cheltenham (2003)
[6] Tassier T., Menczer F.: Emerging small-world referral networks in evolutionary labor markets. IEEE Trans. Evol. Comput. 5, 482–492 (2001) · Zbl 05452165 · doi:10.1109/4235.956712
[7] Nakano T., Okaie Y.: Cooperative resource pricing in service overlay networks for mobile agents. IEICE Trans. Commun. E93-B(7), 1927–1930 (2010) · doi:10.1587/transcom.E93.B.1927
[8] Nakano T., Suda T.: Self-organizing network services with evolutionary adaptation. IEEE Trans. Neural Netw. 16(5), 1269–1278 (2005) · doi:10.1109/TNN.2005.853421
[9] Turner, D.A., Ross, K.W.: A lightweight currency paradigm for the p2p resource market. In: Proceedings of 7th International Conference on Electronic Commerce Research (2004)
[10] Bredin, J., Kotz, D., Rus, D.: Market-based resource control for mobile agents. In: Proceedings of 2nd International Conference on Autonomous Agents, pp. 197 – 204 (1998)
This reference list is based on information provided by the publisher or from digital mathematics libraries. Its items are heuristically matched to zbMATH identifiers and may contain data conversion errors. In some cases that data have been complemented/enhanced by data from zbMATH Open. This attempts to reflect the references listed in the original paper as accurately as possible without claiming completeness or a perfect matching.