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Full-Text Articles in Computer Engineering
A New Simplified Derivation Of Nash Bargaining Solution, Tanja Magoc, Vladik Kreinovich
A New Simplified Derivation Of Nash Bargaining Solution, Tanja Magoc, Vladik Kreinovich
Departmental Technical Reports (CS)
In the 1950s, the Nobel Prize winner John F. Nash has shown that under certain conditions, the best solution to the bargaining problem is when the product of the (increase in) utilities is the largest. Nash's derivation assumed that we are looking for strategies that assign a single situation to each bargaining situation. In this paper, we propose a simplified derivation of Nash bargaining solution that does not requires this assumption.
A Paradox Of Altruism: How Caring About Future Generations Can Result In Poverty For Everyone (Game-Theoretic Analysis), Tanja Magoc, Vladik Kreinovich
A Paradox Of Altruism: How Caring About Future Generations Can Result In Poverty For Everyone (Game-Theoretic Analysis), Tanja Magoc, Vladik Kreinovich
Departmental Technical Reports (CS)
Political and social activists are rightfully concerned about future generations: whenever a country borrows money, or an environmental situation worsens, this means, in effect, that we impose an additional burdens on future generations. There is clearly a conflict between the present generation's actions and interests and the welfare of the future generations. There exists a mathematical toolbox that provides solutions to many well-defined conflict situations: namely, the toolbox of game theory. It therefore seems reasonable to apply game theory techniques to the conflict between the generations. In this paper, we show that we need to be very cautious about this …