The Kelly or proportional allocation mechanism is a simple and efficient auction-based scheme that distributes an infinitely divisible resource proportionally to the agents bids. When agents are aware of the allocation rule, their interactions form a game extensively studied in the literature. This paper examines the less explored repeated Kelly game, focusing mainly on utilities that are logarithmic in the allocated resource fraction. We first derive this logarithmic form from fairness-throughput trade-offs in wireless network slicing, and then prove that the induced stage game admits a unique Nash equilibrium NE. For the repeated play, we prove convergence to this NE under three behavioral models: (i) all agents use Online Gradient Descent (OGD), (ii) all agents use Dual Averaging with a quadratic regularizer (DAQ) (a variant of the Follow-the-Regularized leader algorithm), and (iii) all agents play myopic best responses (BR). Our convergence results hold even when agents use personalized learning rates in OGD and DAQ (e.g., tuned to optimize individual regret bounds), and they extend to a broader class of utilities that meet a certain sufficient condition. Finally, we complement our theoretical results with extensive simulations of the repeated Kelly game under several behavioral models, comparing them in terms of convergence speed to the NE, and per-agent time-average utility. The results suggest that BR achieves the fastest convergence and the highest time-average utility, and that convergence to the stage-game NE may fail under heterogeneous update rules.

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