Theory Seminar: Moshe Haviv (Hebrew University of Jerusalem)
The School of Economics invites you to a School seminar presented by Moshe Haviv (Department of Statistics and Data Science, and the Federmann Center for the Study of Rationality, Hebrew University of Jerusalem)
Social cost of deviation and its applications to queueing games
Binyamin Oz (Hebrew University of Jerusalem)
We define the concept of social cost of deviation in symmetric non-cooperative games with a deterministic or a random number of players. We show that a version of the principle of indifference applies here when looking for the socially optimal symmetric strategy profile. A number of examples of queueing games will exemplify the usefulness of this concept.