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2011 (Vol. 3, Issue: 11)
Article Information:

Game Theoretic Aspects of Production Process Transfer Functions

C.C. Nwobi-Okoye and A.C. Igboanugo
Corresponding Author:  C.C. Nwobi-Okoye 

Key words:  Game theory, mechanism design, production process, transfer function, , ,
Vol. 3 , (11): 1323-1328
Submitted Accepted Published
2011 Sept., 02 2011 September, 25 2011 November, 25
Abstract:

Bidding optimally for processing jobs, selecting optimal manufacturing strategy for job processing, as well as designing optimal mechanisms for processing job contracts is a complex problem. This is because of the complexity of modelling the relationship between the input and output of a production process. It is therefore necessary to seek an analytical tool to clarify the nature of this relationship. The proposed analytical model is the transfer function. Determination of the production process transfer function will have potential applications in game theory, maintenance and quality control. This work examined the potential application of single-input-single-output production process transfer function modelling to game theory and mechanism design. Models relating transfer functions to Bayesian games and mechanism design were developed. On the final analysis, it is shown that relating transfer function to Bayesian games and mechanism design will lead to optimal bids, optimal manufacturing and purchasing strategies, and design of efficient mechanism by social choice planners.
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  Cite this Reference:
C.C. Nwobi-Okoye and A.C. Igboanugo, 2011. Game Theoretic Aspects of Production Process Transfer Functions.  Research Journal of Applied Sciences, Engineering and Technology, 3(11): 1323-1328.
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ISSN (Online):  2040-7467
ISSN (Print):   2040-7459
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