Game-Theoretic Modeling in Practice of Decision-Making

2019 ◽  
Vol 6 (6) ◽  
pp. 59-63 ◽  
Author(s):  
Дмитрий Власов ◽  
Dmitriy Vlasov
Keyword(s):  
Game Theory ◽  
Decision Making ◽  
Economic Activity ◽  
Vocational Training ◽  
Educational Resource ◽  
Risk And Uncertainty ◽  
Game Theoretic

In recent years application of game-theoretic modeling for decisionmaking in various fields of economic activity became very popular. However not enough researches are conducted for the purpose of determination of adequacy and efficiency of such use, questions of orientation of various game models on the solution of specific objectives of the theory of decision-making are not fully described. The relevance of a subject of article is caused by increase of interests in game theory and game modeling as to the tool of the solution of various problems of decision-making in the conditions of risk and uncertainty. The allocated contexts of application of game theory in practice of decisionmaking formed the basis of the electronic educational resource «Game theory» which became an integral part of vocational training of bachelors in Plekhanov Russian University of Economics. The presented results can be used for improvement of quality of the made decisions.

Development of Game Theoretic Protocols for Multilevel Design

2010 ◽  
Author(s):  
Ayan Sinha ◽  
Farrokh Mistree ◽  
Janet K. Allen
Keyword(s):  
Game Theory ◽  
Decision Making ◽  
Geometric Modeling ◽  
Underwater Vehicle ◽  
Design Problems ◽  
Single Level ◽  
Engineering Teams ◽  
Game Theoretic ◽  
Multiple Levels ◽  
The Relationship

The effectiveness of the use of game theory in addressing multi-objective design problems has been illustrated. For the most part, researchers have focused on design problems at single level. In this paper, we illustrate the efficacy of using game theoretic protocols to model the relationship between multidisciplinary engineering teams and facilitate decision making at multiple levels. We will illustrate the protocols in the context of an underwater vehicle with three levels that span material and geometric modeling associated with microstructure mediated design of the material and vehicle.

New Harmonious Development of the College Sports Game Status and Strategic Thinking

2011 ◽  
Vol 50-51 ◽  
pp. 709-712
Author(s):  
Jian Yong Di ◽  
Yan Mei Yang ◽  
Kai Lei Xi ◽  
Xiao Feng Xu
Keyword(s):  
Game Theory ◽  
Decision Making ◽  
Resource Allocation ◽  
Strategic Thinking ◽  
Social Conditions ◽  
College Sports ◽  
Educational Resource ◽  
Harmonious Development ◽  
Education Resources ◽  
Decision Making Behavior

This paper introduces game theory to analysis of the development of college sports in the emerging imbalance. In the new social conditions, the paper is to explore the deep interaction of decision-making behavior in college educational resource allocation. Aim at exploring to make college physical education resources optimize the mode of cooperation, and promote the harmonious development of college sports.

scholarly journals METHODOLOGY, METHODS AND DIGITAL TECHNOLOGIES OF MANAGEMENT DECISION-MAKING TO IMPROVE THE QUALITY OF OPTIMIZATION MODELS OF THE ROCKET AND SPACE INDUSTRY

2019 ◽  
Author(s):  
Александр Андрейчиков ◽  
Aleksandr Andreychikov ◽  
Ольга Андрейчикова ◽  
Olga Andreichicova
Keyword(s):  
Decision Making ◽  
System Analysis ◽  
Digital Technologies ◽  
Optimization Models ◽  
Management Decision ◽  
Risk And Uncertainty ◽  
Intelligent Software ◽  
Space Industry ◽  
Management Decision Making

The monograph presents the methodology, methods and digital technologies of management decision - making to improve the quality of optimization models of the rocket and space industry. The methods and systems of decision support described in the book are focused on solving problems in conditions of certainty, risk and uncertainty. The book is intended for researchers, engineers and students working in areas such as system analysis, innovation quality management, conceptual design, intelligent software development, etc.

Questioning Media Responsibility during Terrorism

2016 ◽  
pp. 441-454
Author(s):  
Mahmoud Eid
Keyword(s):  
Game Theory ◽  
Decision Making ◽  
Severe Stress ◽  
Socially Responsible ◽  
Decision Making Processes ◽  
Media Performance ◽  
Media Responsibility ◽  
Choice Approach ◽  
Terrorist Events

The media's dual role during times of terrorism can be as useful as the most effective security and political counterterrorism measures and can be as harmful as exacerbating terrorist events to the worst humanitarian disasters. Media decision-making processes, therefore, are integral to achieving more desired outcomes. This chapter questions the effectiveness of media performance during times of terrorism through the examination of their decision-making processes in terms of rationality and responsibility. The numerous media decisions that are usually made under severe stress during times of terrorism require adherence to both ethical standards and rational thinking. Strategic and goal-directed decision-making that is based on rational choice approach and game theory can help enhance the quality of media decisions. Ethical and socially responsible media performance is fundamental for effective communication. Interweaved, responsible and rational media decision-making are integral to the effectiveness of media decision-making during times of terrorism towards achieving more desired outcomes.

Questioning Media Responsibility during Terrorism

2014 ◽  
pp. 247-260 ◽  
Author(s):  
Mahmoud Eid
Keyword(s):  
Game Theory ◽  
Decision Making ◽  
Severe Stress ◽  
Socially Responsible ◽  
Decision Making Processes ◽  
Media Performance ◽  
Media Responsibility ◽  
Choice Approach ◽  
Terrorist Events

The media's dual role during times of terrorism can be as useful as the most effective security and political counterterrorism measures and can be as harmful as exacerbating terrorist events to the worst humanitarian disasters. Media decision-making processes, therefore, are integral to achieving more desired outcomes. This chapter questions the effectiveness of media performance during times of terrorism through the examination of their decision-making processes in terms of rationality and responsibility. The numerous media decisions that are usually made under severe stress during times of terrorism require adherence to both ethical standards and rational thinking. Strategic and goal-directed decision-making that is based on rational choice approach and game theory can help enhance the quality of media decisions. Ethical and socially responsible media performance is fundamental for effective communication. Interweaved, responsible and rational media decision-making are integral to the effectiveness of media decision-making during times of terrorism towards achieving more desired outcomes.

Understanding Design Decisions Under Competition Using Games With Information Acquisition and a Behavioral Experiment

2017 ◽  
Vol 139 (9) ◽  
Author(s):  
Jitesh H. Panchal ◽  
Zhenghui Sha ◽  
Karthik N. Kannan
Keyword(s):  
Decision Making ◽  
Information Acquisition ◽  
Analytical Models ◽  
Behavioral Experiment ◽  
Theoretic Model ◽  
Design Decision ◽  
Behavioral Experiments ◽  
Design Decisions ◽  
Game Theoretic

The primary motivation in this paper is to understand decision-making in design under competition from both prescriptive and descriptive perspectives. Engineering design is often carried out under competition from other designers or firms, where each competitor invests effort with the hope of getting a contract, attracting customers, or winning a prize. One such scenario of design under competition is crowdsourcing where designers compete for monetary prizes. Within existing literature, such competitive scenarios have been studied using models from contest theory, which are based on assumptions of rationality and equilibrium. Although these models are general enough for different types of contests, they do not address the unique characteristics of design decision-making, e.g., strategies related to the design process, the sequential nature of design decisions, the evolution of strategies, and heterogeneity among designers. In this paper, we address these gaps by developing an analytical model for design under competition, and using it in conjunction with a behavioral experiment to gain insights about how individuals actually make decisions in such scenarios. The contributions of the paper are two-fold. First, a game-theoretic model is presented for sequential design decisions considering the decisions made by other players. Second, an approach for synergistic integration of analytical models with data from behavioral experiments is presented. The proposed approach provides insights such as shift in participants' strategies from exploration to exploitation as they acquire more information, and how they develop beliefs about the quality of their opponents' solutions.

scholarly journals Practical Implications of Game Theory and Consumer Rights

2019 ◽  
Vol 7 (2) ◽  
pp. 11-19
Author(s):  
K S DhanyaShankar
Keyword(s):  
Game Theory ◽  
Decision Making ◽  
Real World ◽  
World Economy ◽  
Strategic Decision ◽  
Conflict And Cooperation ◽  
Consumer Rights ◽  
The Game Theory ◽  
Game Theoretic ◽  
Practical Implications

 Game theory is the formal study of conflict and cooperation. Game theoretic concepts apply whenever the actions of several agents are interdependent. These agents may be individuals, groups, firms, or any combination of these. The concepts of game theory provide a language to formulate structure, analyse, and understand strategic scenarios. Supermarkets are one such industry which is characterized by narrow profit margin and cut throat competition which had necessitated the need for the formulation and implementation of strategic decision. This interplay of decision making is similar to that of a game. This game of strategy can be used to test the real world theoretical implications of game theory. Thus from this context there arises the need of a study to test the game theory against the experimental evidences of real world economy and the analysis of the implications of game theory in experimental economics.

scholarly journals Substantiation of selecting the priority innovation solution in construction using the game theory apparatus

2020 ◽  
Vol 17 (3) ◽  
pp. 238-244
Author(s):  
N. V. Chepachenko ◽  
◽  
M. M. Lutsenko ◽  
A. M. Demin ◽  
◽  
...  
Keyword(s):  
Game Theory ◽  
External Environment ◽  
Economic Activities ◽  
Managerial Decisions ◽  
Innovative Solutions ◽  
The Game Theory ◽  
Game Theoretic ◽  
Selection Of ◽  
Economic Risks

The article presents the results of the study of the current development direction of applied aspects of the game theory tools application in order to improve the quality of substantiation of selecting managerial decisions by participants in construction activities in relation to the situation of uncertainty in changing the external environment. The authors consider some methodological and applied aspects of modeling the process of substantiating the selection of innovative solutions in the activities of construction organizations using statistical games taking into account the situation of insufficient information for making managerial decisions that affect the efficiency of economic activities of construction participants and generate economic risks. A methodological example of applying game-theoretic modeling is considered in substantiating the selection of priority innovative solutions in the field of industrial-civil and transport construction using the “games with nature” class in a situation of partial uncertainty in changes in the external environment. There have been identified some potential applications of statistical games in combination with probability theory that expand the scope of game-theoretic modeling in order to improve the substantiation quality of selecting priority innovative solutions and reducing economic risks in the activities of construction participants.

scholarly journals GAME THEORY APPLICATION IN DECISION MAKING OF HORTICULTURE FARMING

2021 ◽  
Vol 21 (1) ◽  
pp. 59-64
Author(s):  
Putri Budi Setyowati ◽  
Hery Toiba ◽  
S Sujarwo ◽  
S Syafrial ◽  
Condro Puspo Nugroho
Keyword(s):  
Game Theory ◽  
Decision Making ◽  
Farming System ◽  
External Factors ◽  
Risk Averse ◽  
Agricultural Commodities ◽  
Risk And Uncertainty ◽  
Price Fluctuations ◽  
Theory Application ◽  
Internal And External Factors

In running farming system, farmers not only have a role important as owners who land they farm. But also they are as farm managers to make any decisions to face their farming problems under risk and uncertainty. These problems are categorized as internal and external factors related to price fluctuations of agricultural commodities. For that reason, farmers need to consider some strategies to overcome their farming problem for instance by choosing the best commodities that would give them an optimal profit. The maximax, maximin, savage, and laplace criterions were used to analyze decision making of horticulture farmer in determining which best horticultural commodities to plant according to their behaviour and attitude toward farming risk. Thus, horticulture farmer will be able to make a choice whether or not it is potato, cabbage, or, scallion that will be cultivated in the next planting period. Potato farmers are categorized as the optimistic farmer who loves farming risks and they are cautious. While scallion farmers are pessimistic farmers and they are risk averse. In addition, cabbage farmers are the ones who have the least regret.

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