TL;DR
This paper extends the concept of the price of anarchy to multi-objective games and introduces a polynomial-time algorithm to evaluate it, highlighting implications for policy and economic efficiency.
Contribution
It generalizes the price of anarchy to multi-objective games and provides an efficient algorithm for its assessment.
Findings
Policies on tobacco promote higher economic efficiency.
The polynomial-time algorithm effectively assesses the generalized price of anarchy.
The work bridges multi-objective game theory with practical policy evaluation.
Abstract
In a multi-objective game, each agent individually evaluates each overall action-profile on multiple objectives. I generalize the price of anarchy to multi-objective games and provide a polynomial-time algorithm to assess it. This work asserts that policies on tobacco promote a higher economic efficiency.
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Taxonomy
TopicsGame Theory and Applications · Experimental Behavioral Economics Studies · Auction Theory and Applications