The Price of Anarchy (PoA) is a concept in economics and game theory that measures how the efficiency of a system degrades due to selfish behavior of its agents. It is a general notion that can be extended to diverse systems and notions of efficiency. For example, consider the system of transportation of a city and many agents trying to go from some initial location to a destination. Let efficiency in this case mean the average time for an agent to reach the destination. In the 'centralized' solution, a central authority can tell each agent which path to take in order to minimize the average travel time. In the 'decentralized' version, each agent chooses its own path. The Price of Anarchy measures the ratio between average travel time in the two cases. Usually the system is modeled as a game and the efficiency is some function of the outcomes (e.g. maximum delay in a network, congestion in a transportation system, social welfare in an auction, etc.). Different concepts of equilibrium can be used to model the selfish behavior of the agents, among which the most common is the Nash equilibrium. Different flavors of Nash equilibrium lead to variations of the notion of Price of Anarchy as Pure Price of Anarchy (for deterministic equilibria), Mixed Price of Anarchy (for randomized equilibria), and Bayes–Nash Price of Anarchy (for games with incomplete information). Solution concepts other than Nash equilibrium lead to variations such as the Price of Sinking. The term Price of Anarchy was first used by Elias Koutsoupias and Christos Papadimitriou, but the idea of measuring inefficiency of equilibrium is older. The concept in its current form was designed to be the analogue of the 'approximation ratio' in an approximation algorithm or the 'competitive ratio' in an online algorithm. This is in the context of the current trend of analyzing games using algorithmic lenses (algorithmic game theory). (Wikipedia).
This video provides an example of how to find the equilibrium point given the demand and supply functions. Then producer surplus is found. Site: http://mathispower4u.com
From playlist Business Applications of Integration
Percentage Change (3 of 4: Combining Increase & Decrease)
More resources available at www.misterwootube.com
From playlist Fractions, Decimals and Percentages
http://mathispower4u.wordpress.com/
From playlist Applications of Definite Integration
Elias Koutsoupias: Game Theory 2/2 🎲 CERN
This lecture series will present the main directions of Algorithmic Game Theory, a new field that has emerged in the last two decades at the interface of Game Theory and Computer Science, because of the unprecedented growth in size, complexity, and impact of the Internet and the Web. These
From playlist CERN Academic Lectures
This video provides an example of how to find the equilibrium point given the demand and supply functions. Then consumer surplus is found. Site: http://mathispower4u.com
From playlist Business Applications of Integration
Unit 5 - practice problem 3 question
From playlist Courses and Series
Theoretical Computer Science and Economics - Tim Roughgarden
Lens of Computation on the Sciences - November 22, 2014 Theoretical Computer Science and Economics - Tim Roughgarden, Stanford University Theoretical computer science offers a number of tools to reason about economic problems in novel ways. For example, complexity theory sheds new light
From playlist Lens of Computation on the Sciences
Using the market price for an option on Google's stock, I use Excel's GOAL SEEK function to estimate implied volatility. Implied volatility is a reverse-engineering exercise: we find the volatility that produces a MODEL VALUE = MARKET PRICE. For more financial risk videos, visit our websit
From playlist Volatility
Analysis of Mean-Field Games (Lecture 2) by Kavita Ramanan
PROGRAM: ADVANCES IN APPLIED PROBABILITY ORGANIZERS: Vivek Borkar, Sandeep Juneja, Kavita Ramanan, Devavrat Shah, and Piyush Srivastava DATE & TIME: 05 August 2019 to 17 August 2019 VENUE: Ramanujan Lecture Hall, ICTS Bangalore Applied probability has seen a revolutionary growth in resear
From playlist Advances in Applied Probability 2019
Vahab Mirrokni: Coordination Mechanisms and Price of Anarchy via Fenchel Duality
We develop a new framework based on LP and Fenchel duality for bounding the robust price of anarchy for a large class of games. We use our framework to give the first PoA bounds for temporal routing games on graphs and energy minimization games in machine scheduling. Most notably, we prese
From playlist HIM Lectures: Trimester Program "Combinatorial Optimization"
Ex: Find the Sale Tax Percentage
This video explains how to determine the sales tax percent given the amount paid and the sale price. Search Complete Library at http://www.mathispower4u.wordpress.com
From playlist Percent Applications
Routing in cost-shared networks: equilibria and dynamics by Debmalya Panigrahi (part 1)
Games, Epidemics and Behavior URL: http://www.icts.res.in/discussion_meeting/geb2016/ DATES: Monday 27 Jun, 2016 - Friday 01 Jul, 2016 VENUE : Madhava lecture hall, ICTS Bangalore DESCRIPTION: The two main goals of this Discussion Meeting are: 1. To explore the foundations of policy d
From playlist Games, Epidemics and Behavior
How Closing Roads Could Speed Up Traffic - The Braess Paradox
The Braess Paradox is an unexpected result from network theory. It states that adding capacity could actually slow down the speed of the network. Applied to highways, the Braess Paradox means the existence of some roads slows down traffic, or that closing some roads could speed up traffic.
From playlist Game Theory
#52. After 17% Price Reduction a Boat Sold for $27,390. What was the Original Price?
Please Subscribe here, thank you!!! https://goo.gl/JQ8Nys #52. After 17% Price Reduction a Boat Sold for $27,390. What was the Original Price?
From playlist College Algebra Final Exam Review
Unit 4 - practice problem 3 question
From playlist Courses and Series
Intro to Anarchy: Power & Violence | Philosophy Tube
Anarchy is a fascinating philosophy: it’s not just anti-government; it touches on economics, art, sexuality – any field where power is found. Let’s learn about the relationship between power and violence, and why anarchists want to resist power! Subscribe! http://tinyurl.com/pr99a46 Patr
From playlist POLITICS AND LAW
Chaitanya Swamy: Signaling in Bayesian Games
We study the optimization problem faced by an informed principal in a Bayesian game, who can reveal some information about the underlying random state of nature to the players (thereby influencing their payoffs) so as to obtain a desirable equilibrium. This yields the following signaling p
From playlist HIM Lectures: Trimester Program "Combinatorial Optimization"
Metternich: The Puppetmaster of Europe
Klemens Von Metternich was an Austrian Statesman that grew up during the French Revolution and seeing all the violence and percived anarchy he was determined to control Napoleon to end the march of the french armies and then the rest of europe, by becoming The Puppetmaster of Europe. #Hist
From playlist My Best Stuff
Healthcare Should Not Be a For-Profit Business, says Jesse Ventura | Big Think.
Healthcare Should Not Be a For-Profit Business, says Jesse Ventura Watch the newest video from Big Think: https://bigth.ink/NewVideo Join Big Think Edge for exclusive videos: https://bigth.ink/Edge ---------------------------------------------------------------------------------- As form
From playlist Best Videos | Big Think
Example: Determine the Best Buy Using Unit Rate
This video determines the cost of an item per ounce to determine the best buy using unit rate. Complete Video List at http://www.mathispower4u.com
From playlist Ratios and Rates