Bary S. R. Pradelski

interaction seminar

Bary S. R. Pradelski

ETH Zurich
The assignment game: Decentralized dynamics, rate of convergence and the value of information
Lieu

IBD Salle 21

Îlot Bernard du Bois - Salle 21

AMU - AMSE
5-9 boulevard Maurice Bourdet
13001 Marseille

Date(s)
Jeudi 21 septembre 2017| 12:00 - 13:15
Contact(s)

Ugo Bolletta : ugo.bolletta[at]univ-amu.fr
Mathieu Faure : mathieu.faure[at]univ-amu.fr

Résumé

We study decentralized learning dynamics for the classic assignment game with transferable utility but without a central clearing house. At random points in time firms and workers match, break up, and re-match in the search for better opportunities. Agents employ uncoupled learning rules, that is, their strategies are not dependent on other agents’ payoffs or the structure of the game. We propose a simple learning process that converges to stable and optimal outcomes (the core). We then show that naïve strategies are inefficient, that is, the rate of convergence to core outcomes grows exponentially in the number of players. We then discuss behaviorally motivated learning rules that achieve efficiency.

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