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Bandwidth-sharing Game
A bandwidth-sharing game is a type of resource allocation game designed to model the real-world allocation of bandwidth to many users in a network. The game is popular in game theory Game theory is the study of mathematical models of strategic interactions among rational agents. Myerson, Roger B. (1991). ''Game Theory: Analysis of Conflict,'' Harvard University Press, p.&nbs1 Chapter-preview links, ppvii–xi It has appli ... because the conclusions can be applied to real-life networks. The game The game involves n players. Each player i has utility U_i(x) for x units of bandwidth. Player i pays w_i for x units of bandwidth and receives net utility of U_i(x)-w_i. The total amount of bandwidth available is B. Regarding U_i(x), we assume * U_i(x)\ge0; * U_i(x) is increasing and concave; * U(x) is continuous. The game arises from trying to find a price p so that every player individually optimizes their own welfare. This implies every player must individually find \underset ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resource Allocation
In economics, resource allocation is the assignment of available resources to various uses. In the context of an entire economy, resources can be allocated by various means, such as markets, or planning. In project management, resource allocation or resource management is the scheduling of activities and the resources required by those activities while taking into consideration both the resource availability and the project time. Economics In economics, the field of public finance deals with three broad areas: macroeconomic stabilization, the distribution of income and wealth, and the allocation of resources. Much of the study of the allocation of resources is devoted to finding the conditions under which particular mechanisms of resource allocation lead to Pareto efficient outcomes, in which no party's situation can be improved without hurting that of another party. Strategic planning In strategic planning, resource allocation is a plan for using available resources, for exampl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bandwidth (computing)
In computing, bandwidth is the maximum rate of data transfer across a given path. Bandwidth may be characterized as network bandwidth, data bandwidth, or digital bandwidth. This definition of ''bandwidth'' is in contrast to the field of signal processing, wireless communications, modem data transmission, digital communications, and electronics, in which ''bandwidth'' is used to refer to analog signal bandwidth measured in hertz, meaning the frequency range between lowest and highest attainable frequency while meeting a well-defined impairment level in signal power. The actual bit rate that can be achieved depends not only on the signal bandwidth but also on the noise on the channel. Network capacity The term ''bandwidth'' sometimes defines the net bit rate 'peak bit rate', 'information rate,' or physical layer 'useful bit rate', channel capacity, or the maximum throughput of a logical or physical communication path in a digital communication system. For example, bandwidth test ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Game Theory
Game theory is the study of mathematical models of strategic interactions among rational agents. Myerson, Roger B. (1991). ''Game Theory: Analysis of Conflict,'' Harvard University Press, p.&nbs1 Chapter-preview links, ppvii–xi It has applications in all fields of social science, as well as in logic, systems science and computer science. Originally, it addressed two-person zero-sum games, in which each participant's gains or losses are exactly balanced by those of other participants. In the 21st century, game theory applies to a wide range of behavioral relations; it is now an umbrella term for the science of logical decision making in humans, animals, as well as computers. Modern game theory began with the idea of mixed-strategy equilibria in two-person zero-sum game and its proof by John von Neumann. Von Neumann's original proof used the Brouwer fixed-point theorem on continuous mappings into compact convex sets, which became a standard method in game theory and mathema ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Clearing
In economics, market clearing is the process by which, in an economic market, the supply of whatever is traded is equated to the demand so that there is no excess supply or demand. The new classical economics assumes that in any given market, assuming that all buyers and sellers have access to information and that there is no "friction" impeding price changes, prices ''always'' adjust up or down to ensure market clearing. Mechanism and examples A market-clearing price is the price of a good or service at which quantity supplied is equal to quantity demanded, also called the equilibrium price. The theory claims that markets tend to move toward this price. For a one-time sale of goods, supply is fixed, so the market-clearing price is simply the maximum price at which all items can be sold. For a market where goods are produced and sold on an ongoing basis, the theory predicts that the market will move toward a price where the quantity supplied in a broad time period will equal the qua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
