Related papers: Process Utility in High-Stakes Competition
Competitive analysis of online algorithms has commonly been applied to understand the behaviour of real-time systems during overload conditions. While competitive analysis provides insight into the behaviour of certain algorithms, it is…
We consider a strategic game, where players submit jobs to a machine that executes all jobs in a way that minimizes energy while respecting the given deadlines. The energy consumption is then charged to the players in some way. Each player…
We study the mathematical properties of probabilistic processes in which the independent actions of $n$ players (`causes') can influence the outcome of each player (`effects'). In such a setting, each pair of outcomes will generally be…
Ladder tournaments are widely used to rank individuals in real-world organizations and games. Their mathematical properties however are still poorly understood. We formalize the ranking rule generated by a ladder tournament, and we show…
The valuation process that economic agents undergo for investments with uncertain payoff typically depends on their statistical views on possible future outcomes, their attitudes toward risk, and, of course, the payoff structure itself.…
Recent work has constructed economic mechanisms that are both truthful and differentially private. In these mechanisms, privacy is treated separately from the truthfulness; it is not incorporated in players' utility functions (and doing so…
The standard mathematical approach to fourth-down decision making in American football is to make the decision that maximizes estimated win probability. Win probability estimates arise from machine learning models fit from historical data.…
Here we introduce a model in which individuals differ in the rate at which they seek new interactions with others, making rational decisions modeled as general symmetric two-player games. Once a link between two individuals has formed, the…
Paired comparison models, such as the Bradley-Terry (1952) model and its variants, are commonly used to measure competitor strength in games and sports. Extensions have been proposed to account for order effects (e.g., home-field advantage)…
We study the design of effort-maximizing grading schemes between agents with private abilities. Assuming agents derive value from the information their grade reveals about their ability, we find that more informative grading schemes induce…
We consider a multi-organizational system in which each organization contributes processors to the global pool but also jobs to be processed on the common resources. The fairness of the scheduling algorithm is essential for the stability…
We study the problem of option pricing and hedging strategies within the frame-work of risk-return arguments. An economic agent is described by a utility function that depends on profit (an expected value) and risk (a variance). In the…
This article investigates the influence of luck and strategic considerations on performance of teams participating in the M6 investment challenge. We find that there is insufficient evidence to suggest that the extreme Sharpe ratios…
In the present work we develop a formalism to tackle the problem of optimal execution when trading market securities. More precisely, we introduce a utility function that balances market impact and timing risk, with this last being modelled…
Humans exhibit irrational decision-making patterns in response to environmental triggers, such as experiencing an economic loss or gain. In this paper we investigate whether algorithms exhibit the same behavior by examining the observed…
Gambles are random variables that model possible changes in monetary wealth. Classic decision theory transforms money into utility through a utility function and defines the value of a gamble as the expectation value of utility changes.…
We propose a continuous-time nonlinear model of opinion dynamics with utility-maximizing agents connected via a social influence network. A distinguishing feature of the proposed model is the inclusion of an opinion-dependent…
Analysis of efficiency of outcomes in game theoretic settings has been a main item of study at the intersection of economics and computer science. The notion of the price of anarchy takes a worst-case stance to efficiency analysis,…
The paper proposes a two player game based strategy for resource allocation in service computing domain such as cloud, grid etc. The players are modeled as demand/workflows for the resource and represent multiple types of qualitative and…
Recently, Press and Dyson have proposed a new class of probabilistic and conditional strategies for the two-player iterated Prisoner's Dilemma, so-called zero-determinant strategies. A player adopting zero-determinant strategies is able to…