Mechanism Design And Its Application In Management Science
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Mechanism Design And Its Application In Management Science
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Author : Yu Wang
language : en
Publisher: VDM Publishing
Release Date : 2008
Mechanism Design And Its Application In Management Science written by Yu Wang and has been published by VDM Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Business & Economics categories.
I utilize a mechanism design framework to show that the current most popular practice in the timeshare exchange industry can be greatly improved without a tremendous change in their fundamental systems. By focusing on the ten-billion dollar timeshare industry and proposing a superior mechanism to improve its operation, the research has signi-ficant substantive implications. At the same time, from the theoretical perspective, the research extends the literature on one-sided matching to cases where supply of resources is dynamic and resources can be stored. I also study the theoretical relationship between two impor-tant matching mechanisms: Top Trading Cycles (TTC) mechanism and Top Trading Cycles and Chains (TTCC) mechanism. I show that given a specific chain selection rule of TTCC, it can be reduced to TTC. How-ever, this applies to only one special case and do not generalize to cases where other types of chain selection rules are used. Given the obvious link between the mechanism design work and the business systems that we observe in the marketplace, one of the potential contributions of my research is to encourage mechanism design study in management science.
Mechanism Design And Management
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Author : Vladimir Burkov
language : en
Publisher: Nova Science Publishers
Release Date : 2013
Mechanism Design And Management written by Vladimir Burkov and has been published by Nova Science Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Control theory categories.
Mechanism Design (MD) is a branch of game theory which deals with conflict situations involving a principal and a set of active agents (usually in the presence of asymmetric information). Mechanism design theory delivers a solution to many management problems in the form of a control mechanism, (i.e., a formalised routine of decision-making). Formal results of MD can change the fundamentals of managerial practice by introducing decision-making mechanisms in organisations, which are efficient and robust with respect to employees self-serving behaviour. The proposed book seeks a more intensive application of MD methodology and its formal results in organisations. The main aim of the book is to provide readers with the basics of an MD-based view on managerial problems, so that intra-firm policies can be analysed through the looking glass of employees behavioural response. A systematic introduction of the underlying MD methodology is combined with a collection of ready-to-use mechanisms for solving typical management problems. The use of MD by individual managers is facilitated by bringing together mathematical and business literature in a single treatise.This book is not a purely academic monograph as it contains as few formulas as possible, and no formal proofs (references to formal results are provided throughout the text). Courses on MD for managers are not common in business schools now, and our book represents the perfect material for such a course.
Mechanism Design
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Author : Rakesh V. Vohra
language : en
Publisher: Cambridge University Press
Release Date : 2011-05-09
Mechanism Design written by Rakesh V. Vohra and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-05-09 with Business & Economics categories.
Mechanism design is an analytical framework for thinking clearly and carefully about what exactly a given institution can achieve when the information necessary to make decisions is dispersed and privately held. This analysis provides an account of the underlying mathematics of mechanism design based on linear programming. Three advantages characterize the approach. The first is simplicity: arguments based on linear programming are both elementary and transparent. The second is unity: the machinery of linear programming provides a way to unify results from disparate areas of mechanism design. The third is reach: the technique offers the ability to solve problems that appear to be beyond solutions offered by traditional methods. No claim is made that the approach advocated should supplant traditional mathematical machinery. Rather, the approach represents an addition to the tools of the economic theorist who proposes to understand economic phenomena through the lens of mechanism design.
Designing Economic Mechanisms
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Author : Leonid Hurwicz
language : en
Publisher: Cambridge University Press
Release Date : 2006-05-22
Designing Economic Mechanisms written by Leonid Hurwicz and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-05-22 with Business & Economics categories.
A mechanism is a mathematical structure that models institutions through which economic activity is guided and coordinated. There are many such institutions; markets are the most familiar ones. Lawmakers, administrators and officers of private companies create institutions in order to achieve desired goals. They seek to do so in ways that economize on the resources needed to operate the institutions, and that provide incentives that induce the required behaviors. This book presents systematic procedures for designing mechanisms that achieve specified performance, and economize on the resources required to operate the mechanism. The systematic design procedures are algorithms for designing informationally efficient mechanisms. Most of the book deals with these procedures of design. When there are finitely many environments to be dealt with, and there is a Nash-implementing mechanism, our algorithms can be used to make that mechanism into an informationally efficient one. Informationally efficient dominant strategy implementation is also studied.
Game Theoretic Problems In Network Economics And Mechanism Design Solutions
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Author : Y. Narahari
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-04-03
Game Theoretic Problems In Network Economics And Mechanism Design Solutions written by Y. Narahari and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-04-03 with Mathematics categories.
This monograph focuses on exploring game theoretic modeling and mechanism design for problem solving in Internet and network economics. For the first time, the main theoretical issues and applications of mechanism design are bound together in a single text.
Public Management As A Design Oriented Professional Discipline
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Author : Michael Barzelay
language : en
Publisher: Edward Elgar Publishing
Release Date : 2019
Public Management As A Design Oriented Professional Discipline written by Michael Barzelay and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Professional ethics categories.
While public management has become widely spoken of, its identity and character is not well-defined. Such disparity is an underlying problem in developing public management within academia, and in the eyes of practitioners. In this book, Michael Barzelay tackles the challenge of making public management into a true professional discipline. Barzelay argues that public management needs to integrate contrasting conceptions of professional practice. By pressing forward an expansive idea of design in public management, Barzelay formulates a fresh vision of public management in practice and outlines its implications for research, curriculum development and disciplinary identity.
On Combinatorial Optimization And Mechanism Design Problems Arising At Container Ports
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Author : Sebastian Meiswinkel
language : en
Publisher: Springer
Release Date : 2018-05-17
On Combinatorial Optimization And Mechanism Design Problems Arising At Container Ports written by Sebastian Meiswinkel and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-05-17 with Business & Economics categories.
Sebastian Meiswinkel studies optimization problems that arise at container ports from a classic optimization as well as from a mechanism design point of view. The first part of this dissertation is focused on scheduling problems with selfish job owners that have private information about their characteristics. Afterwards the transportations of containers between the quay and a storage area is considered. Variants of this problem are analyzed for utilization of reach stackers and straddle carriers.
Mechanism Design For Sustainability
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Author : Zongwei Luo
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-03-12
Mechanism Design For Sustainability written by Zongwei Luo and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-12 with Science categories.
This book provides advanced analytics and decision management techniques and tools for developing sustainable competitive advantages in the studied target context. In order to achieve sustainable economy, “the capacity to endure,” it is essential to understand and study the mechanisms for interactions and impact from and among these perspectives.
Game Theory And Mechanism Design
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Author : Y Narahari
language : en
Publisher: World Scientific
Release Date : 2014-03-13
Game Theory And Mechanism Design written by Y Narahari and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-03-13 with Computers categories.
This book offers a self-sufficient treatment of a key tool, game theory and mechanism design, to model, analyze, and solve centralized as well as decentralized design problems involving multiple autonomous agents that interact strategically in a rational and intelligent way. The contents of the book provide a sound foundation of game theory and mechanism design theory which clearly represent the “science” behind traditional as well as emerging economic applications for the society.The importance of the discipline of game theory has been recognized through numerous Nobel prizes in economic sciences being awarded to game theorists, including the 2005, 2007, and 2012 prizes. The book distills the marvelous contributions of these and other celebrated game theorists and presents it in a way that can be easily understood even by senior undergraduate students.A unique feature of the book is its detailed coverage of mechanism design which is the art of designing a game among strategic agents so that a social goal is realized in an equilibrium of the induced game. Another feature is a large number of illustrative examples that are representative of both classical and modern applications of game theory and mechanism design. The book also includes informative biographical sketches of game theory legends, and is specially customized to a general engineering audience.After a thorough reading of this book, readers would be able to apply game theory and mechanism design in a principled and mature way to solve relevant problems in computer science (esp, artificial intelligence/machine learning), computer engineering, operations research, industrial engineering and microeconomics.
Dynamic Allocation And Pricing
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Author : Alex Gershkov
language : en
Publisher: MIT Press
Release Date : 2024-06-11
Dynamic Allocation And Pricing written by Alex Gershkov and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-06-11 with Business & Economics categories.
A new approach to dynamic allocation and pricing that blends dynamic paradigms from the operations research and management science literature with classical mechanism design methods. Dynamic allocation and pricing problems occur in numerous frameworks, including the pricing of seasonal goods in retail, the allocation of a fixed inventory in a given period of time, and the assignment of personnel to incoming tasks. Although most of these problems deal with issues treated in the mechanism design literature, the modern revenue management (RM) literature focuses instead on analyzing properties of restricted classes of allocation and pricing schemes. In this book, Alex Gershkov and Benny Moldovanu propose an approach to optimal allocations and prices based on the theory of mechanism design, adapted to dynamic settings. Drawing on their own recent work on the topic, the authors describe a modern theory of RM that blends the elegant dynamic models from the operations research (OR), management science, and computer science literatures with techniques from the classical mechanism design literature. Illustrating this blending of approaches, they start with well-known complete information, nonstrategic dynamic models that yield elegant explicit solutions. They then add strategic agents that are privately informed and then examine the consequences of these changes on the optimization problem of the designer. Their sequential modeling of both nonstrategic and strategic logic allows a clear picture of the delicate interplay between dynamic trade-offs and strategic incentives. Topics include the sequential assignment of heterogeneous objects, dynamic revenue optimization with heterogeneous objects, revenue maximization in the stochastic and dynamic knapsack model, the interaction between learning about demand and dynamic efficiency, and dynamic models with long-lived, strategic agents.