Strategic betting for competitive agents

8 years 4 months ago
Strategic betting for competitive agents
In many multiagent settings, each agent's goal is to come out ahead of the other agents on some metric, such as the currency obtained by the agent. In such settings, it is not appropriate for an agent to try to maximize its expected score on the metric; rather, the agent should maximize its expected probability of winning. In principle, given this objective, the game can be solved using game-theoretic techniques. However, most games of interest are far too large and complex to solve exactly. To get some intuition as to what an optimal strategy in such games should look like, we introduce a simplified game that captures some of their key aspects, and solve it (and several variants) exactly. Specifically, the basic game that we study is the following: each agent i chooses a lottery over nonnegative numbers whose expectation is equal to its budget bi. The agent with the highest realized outcome wins (and agents only care about winning). We show that there is a unique symmetric equil...
Liad Wagman, Vincent Conitzer
Added 12 Oct 2010
Updated 12 Oct 2010
Type Conference
Year 2008
Where ATAL
Authors Liad Wagman, Vincent Conitzer
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