Skip to main content
SpringerLink
Log in

Kolkata Restaurant Problem: Some Further Research Directions

  • Conference paper
  • First Online:
Econophysics and Sociophysics: Recent Progress and Future Directions

Part of the book series: New Economic Windows ((NEW))

  • 888 Accesses

Abstract

In an earlier work on Kolkata paise restaurant problem, Banerjee et al. 2013, we analyzed the cyclically fair norm. We identified conditions under which such a fair societal norm can be sustained as an equilibrium. In this chapter we suggest how the Kolkata restaurant problem can be extended in several directions from purely an economics based modeling perspective.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 129.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 169.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Notes

  1. 1.

    In particular, the discount factor \(\delta \) must be in the open interval \(\left( \frac{V_1-2V_2}{V_1}, 1\right) \).

  2. 2.

    Since there are only two agents and two restaurants, notions of better and best are equivalent.

References

  • R. J. Aumann. Correlated equilibrium as an expression of bayesian rationality. Econometrica, 55:1–18, 1987.

    Google Scholar 

  • P. Banerjee, M. Mitra, and C. Mukherjee. Econophysics of Systemic Risk and Network Dynamics, chapter Kolkata Paise Restaurant Problem and the Cyclically Fair Norm, pages 201–216. Springer Milan, 2013.

    Google Scholar 

  • J. G. Becker and D. S. Damianov. On the existence of symmetric mixed strategy equilibria. Economics Letters, 90:84–87, 2006.

    Google Scholar 

  • A. S. Chakrabarti, B. K. Chakrabarti, A. Chatterjee, and M. Mitra. The kolkata paise restaurant problem and resource utilization. Physica A: Statistical Mechanics and its Applications, 388:2420–2426, 2009.

    Google Scholar 

  • J. Farrell and M. Rabin. Cheap talk. The Journal of Economic Perspectives, 10:103–118, 1996.

    Google Scholar 

  • A. Ghosh, A. Chatterjee, M. Mitra, and B. K. Chakrabarti. Statistics of the kolkata paise restaurant problem. New Journal of Physics, 12:075033, 2010.

    Google Scholar 

  • M. Kandori. Introduction to repeated games with private monitoring. Journal of Economic Theory, 102:1–15, 2002.

    Google Scholar 

  • E. Kohlberg and J-F. Mertens. On strategic stability of equilibria. Econometrica, 54:1003–1037, 1986.

    Google Scholar 

  • R. McLean, I. Obara, and A. Postlewaite. Robustness of public equilibria in repeated games with private monitoring. Journal of Economic Theory, 153:191–212, 2014.

    Google Scholar 

  • R. Selten. Reexamination of the perfectness concept for equilibrium points in extensive games. International Journal of Game Theory, 4:25–55, 1975.

    Google Scholar 

  • P. D. Taylor and L. B. Jonker. Evolutionary stable strategies and game dynamics. Mathematical Biosciences, 40:145–156, 1978.

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Economic Research Unit, Indian Statistical Institute, Kolkata, India

    Priyodorshi Banerjee & Manipushpak Mitra

  2. Department of Econmics, Lund University, Lund, Sweden

    Conan Mukherjee

  3. Department of Humanities & Social Sciences, Indian Institute of Technology Bombay, Bombay, India

    Conan Mukherjee

Authors
  1. Priyodorshi Banerjee
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Manipushpak Mitra
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. Conan Mukherjee
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Manipushpak Mitra .

Editor information

Editors and Affiliations

  1. CentraleSupélec , Châtenay Malabry, France

    Frédéric Abergel

  2. Dept of Physics, Graduate School of Science, Kyoto University , Kyoto, Kyoto, Japan

    Hideaki Aoyama

  3. Saha Institute of Nuclear Physics , Kolkata, India

    Bikas K. Chakrabarti

  4. Jawaharlal Nehru University , New Delhi, India

    Anirban Chakraborti

  5. Department of Physics and Astrophysics, University of Delhi, New Delhi, India

    Nivedita Deo

  6. Zakir Husain Centre for Educational Studiess, Jawaharlal Nehru University, New Delhi, India

    Dhruv Raina

  7. Administrative Sciences, Metropolitan College, Boston University, Boston, USA

    Irena Vodenska

Rights and permissions

Reprints and permissions

Copyright information

© 2017 Springer International Publishing AG

About this paper

Cite this paper

Banerjee, P., Mitra, M., Mukherjee, C. (2017). Kolkata Restaurant Problem: Some Further Research Directions. In: Abergel, F., et al. Econophysics and Sociophysics: Recent Progress and Future Directions. New Economic Windows. Springer, Cham. https://doi.org/10.1007/978-3-319-47705-3_9

Download citation

Publish with us

Policies and ethics

Search

Navigation