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Pricing in population games with semi-rational agents
Ghasemieh, H ; Sharif University of Technology | 2013
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- Type of Document: Article
- DOI: 10.1016/j.orl.2013.01.008
- Publisher: 2013
- Abstract:
- 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
- Keywords:
- Algorithm ; Market ; Population game ; Pricing ; Social network ; Convergence points ; Equilibrium point ; Population games ; Social Networks ; Algorithms ; Commerce ; Iterative methods ; Social networking (online) ; Costs
- Source: Operations Research Letters ; Volume 41, Issue 3 , 2013 , Pages 226-231 ; 01676377 (ISSN)
- URL: http://www.sciencedirect.com/science/article/pii/S0167637713000096