Fast Convergence of Natural Bargaining Dynamics in Exchange Networks (original) (raw)
2011, Proceedings of the Twenty-Second Annual ACM-SIAM Symposium on Discrete Algorithms
Bargaining networks model the behavior of a set of players who need to reach pairwise agreements for making profits. Nash bargaining solutions in this context correspond to solutions which are stable and balanced. Kleinberg and Tardos [19] proved that, if such solutions exist, then they can by calculated in polynomial time. This left open the question: Are there dynamics which can describe the bargaining process of real-world players, and which converge quickly to a Nash bargaining solution? This paper provides an affirmative answer to that question.
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