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Pricing in population games with semi-rational agents

Ghasemieh, H ; Sharif University of Technology | 2013

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  1. Type of Document: Article
  2. DOI: 10.1016/j.orl.2013.01.008
  3. Publisher: 2013
  4. Abstract:
  5. We consider a market in which two competing sellers offer two similar products on a social network. In this market, each agent chooses iteratively between the products based on her neighbors reactions and prices. This introduces two games: one between the agents and one between the sellers. We show that the first game is a full potential game and provide an algorithm to compute its convergence point. We also study various properties of the second game such as its equilibrium points and convergence
  6. Keywords:
  7. Algorithm ; Market ; Population game ; Pricing ; Social network ; Convergence points ; Equilibrium point ; Population games ; Social Networks ; Algorithms ; Commerce ; Iterative methods ; Social networking (online) ; Costs
  8. Source: Operations Research Letters ; Volume 41, Issue 3 , 2013 , Pages 226-231 ; 01676377 (ISSN)
  9. URL: http://www.sciencedirect.com/science/article/pii/S0167637713000096