Thursday, 13:15 - 13:40 h, Room: MA 005


Francesco Pasquale
Logit dynamics: Expected social welfare, mixing time, and metastability

Coauthors: Vincenzo Auletta, Diodato Ferraioli, Paolo Penna, Giuseppe Persiano


Logit dynamics [Blume, Games and Economic Behavior, 1993] is a randomized best response dynamics for strategic games: at every time step a player is selected uniformly at random and she chooses a new strategy according to a probability distribution biased toward strategies promising higher payoffs. This process defines an ergodic Markov chain over the set of strategy profiles, whose unique stationary distribution we regard as the long-term equilibrium concept for the game.
We are interested in the stationary performance of the game (the expected social welfare when the profiles are random according to the stationary distribution) and in the time it takes to get close to the stationary distribution (mixing time). When the mixing time is large the stationary distribution loses its appeal as equilibrium concept and we look for "regularities'' at time-scales shorter than mixing time (metastability).
In this talk we give an overview of our recent results on stationary expected social welfare, mixing time, and metastability of logit dynamics for some classes of games.


Talk 1 of the invited session Thu.2.MA 005
"Efficiency and optimization in games" [...]
Cluster 8
"Game theory" [...]


  There are three major facts that should be watched out for in all payday loans in the United States. On the global pharmaceutical market this medicine was issued in 2003 by two companies - Eli Lilly and ICOS. Initially, permission to sell Cheap Cialis was obtained in Europe, Australia, New Zealand.