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Abstract
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Article Information:
Game Theoretic Aspects of Production Process Transfer Functions
C.C. Nwobi-Okoye and A.C. Igboanugo
Corresponding Author: C.C. Nwobi-Okoye
Submitted: 2011 Sept., 02
Accepted: 2011 September, 25
Published: 2011 November, 25 |
Abstract:
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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.
Key words: Game theory, mechanism design, production process, transfer function, , ,
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Cite this Reference:
C.C. Nwobi-Okoye and A.C. Igboanugo, . Game Theoretic Aspects of Production Process Transfer Functions. Research Journal of Applied Sciences, Engineering and Technology, (11): 1323-1328.
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ISSN (Online): 2040-7467
ISSN (Print): 2040-7459 |
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