Mechanism Design And Management
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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 For Total Quality Management
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Author : Petter Ogland
language : en
Publisher: Lulu.com
Release Date : 2016-07-14
Mechanism Design For Total Quality Management written by Petter Ogland and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-14 with Business & Economics categories.
'Mechanism Design for Total Quality Management' is clearly written in a logical manner and points are supported by real life case studies. Dr. Ogland demonstrates how a Total Quality Management strategy articulated through the use of bootstrap algorithms can be used to achieve world-class performance in challenging environments such as complex organisations saturated with power struggles and internal politics. The book features insights on critical systems thinking, game theory, quality management systems, the EFQM Business Excellence Model, self-assessment, and the implementation of TQM. Case studies provide practical insights from twenty years of empirical research on how to bootstrap TQM and Business Excellence in complex environments. The ideas developed in the book have been acknowledged as a major contribution to the theory of TQM, and the book itself is an indispensable resource for practitioners trying to implement TQM in environments where traditional implementation methods are bound to fail.
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 For Total Quality Management
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Author : Petter Ogland
language : en
Publisher: Lulu.com
Release Date : 2016-10-07
Mechanism Design For Total Quality Management written by Petter Ogland and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-10-07 with Business & Economics categories.
This PhD thesis contributes to the theory of information infrastructures by explaining how to use game theory and genetic algorithms for turning the pseudo-code of the bootstrap algorithm into proper code. The study is the first known study to analyse the bootstrap algorithm from an action research perspective, and it has become an important reference for further research on how to bootstrap information infrastructures.
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.
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.
An Introduction To The Theory Of Mechanism Design
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Author : Tilman Borgers
language : en
Publisher: Oxford University Press
Release Date : 2015-05-01
An Introduction To The Theory Of Mechanism Design written by Tilman Borgers and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-01 with Business & Economics categories.
What is the best way to auction an asset? How should a group of people organize themselves to ensure the best provision of public goods? How should exchanges be organized? In An Introduction to the Theory of Mechanism Design, Tilman Börgers addresses these questions and more through an exploration of the economic theory of mechanism design. Mechanism design is reverse game theory. Whereas game theory takes the rules of the game as a given and makes predictions about the behavior of strategic players, the theory of mechanism design goes a step further and selects the optimal rules of the game. A relatively new economic theory, mechanism design studies the instrument itself as well as the results of the instrument. An Introduction to the Theory of Mechanism Design provides rigorous but accessible explanations of classic results in the theory of mechanism design, such as Myerson's theorem on expected revenue maximizing auctions, Myerson and Satterthwaite's theorem on the impossibility of ex post efficient bilateral trade with asymmetric information, and Gibbard and Satterthwaite's theorem on the non-existence of dominant strategy voting mechanisms. Börgers also provides an examination of the frontiers of current research in the area with an original and unified perspective that will appeal to advanced students of economics.
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.
Mechanism Design For Total Quality Management Using The Bootstrap Algorithm For Changing The Control Game
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Author : Petter Ogland
language : en
Publisher: Lulu.com
Release Date : 2017-11-27
Mechanism Design For Total Quality Management Using The Bootstrap Algorithm For Changing The Control Game written by Petter Ogland and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-27 with categories.
This PhD thesis contributes to the theory of information infrastructures by explaining how to use game theory and genetic algorithms for turning the pseudo-code of the bootstrap algorithm into proper code. The study is the first known study to analyse the bootstrap algorithm from an action research perspective, and it has become an important reference for further research on how to bootstrap information infrastructures.
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.