Terminal ranking games
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Publication:5026440
DOI10.1287/MOOR.2020.1107zbMATH Open1483.91030arXiv1906.09628OpenAlexW3131173933MaRDI QIDQ5026440FDOQ5026440
Authors: Erhan Bayraktar, Yuchong Zhang 
Publication date: 8 February 2022
Published in: Mathematics of Operations Research (Search for Journal in Brave)
Abstract: We analyze a mean field tournament: a mean field game in which the agents receive rewards according to the ranking of the terminal value of their projects and are subject to cost of effort. Using Schr"{o}dinger bridges we are able to explicitly calculate the equilibrium. This allows us to identify the reward functions which would yield a desired equilibrium and solve several related mechanism design problems. We are also able to identify the effect of reward inequality on the players' welfare as well as calculate the price of anarchy.
Full work available at URL: https://arxiv.org/abs/1906.09628
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Cited In (14)
- Reward design in risk-taking contests
- Ranking games and gambling: when to quit when you're ahead
- Teamwise mean field competitions
- Tournament-induced risk-shifting: a mean field games approach
- X-games
- Effort expenditure for cash flow in a mean-field equilibrium
- Mean Field Contest with Singularity
- Large tournament games
- Ranking games that have competitiveness-based strategies
- Time Inconsistency, Precommitment, and Equilibrium Strategies for a Stackelberg Game
- Optimal Relative Performance Criteria in Mean-Field Contribution Games
- A rank-based mean field game in the strong formulation
- The role of correlation in diffusion control ranking games
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