Use Of Game Theory Research Articles

Game Theory and Dual Approach to the Dynamic Programming on the Example of the COVID‐19 Pandemic in Poland Described by Mathematical Model With Three‐Dose Vaccinated

ABSTRACTIn this paper, a new approach to the disease transmission dynamics of the COVID‐19 pandemic is presented, involving the use of game theory and dual dynamic programming. A new compartmental model that describes these dynamics is introduced. New classes have been added to this model to account for the portion of the population vaccinated with one dose, two doses, or three doses. Pandemic costs are also included. Time‐dependent parameters (strategies) are employed, allowing for the consideration of different behavior variants and decisions made by policymakers. Sufficient conditions for a dual ‐closed‐loop Nash equilibrium, are formulated in the form of a verification theorem. A numerical algorithm is constructed, and numerical simulations are performed. A comparison between real pandemic data for Poland and the data obtained from the model is made.

The potential use of game theory in decision-making in CHD.

Background: Congenital cardiac care involves multiple stakeholders including patients and their families, surgeons, cardiologists, anaesthetists, the wider multidisciplinary team, healthcare providers, and manufacturers, all of whom are involved in the decision-making process to some degree. Game theory utilises human behaviour to address the dynamics involved in a decision and what the best payoff is depending on the decision of other players. Aim: By presenting these interactions as a strategic game, this paper aims to provide a descriptive analysis on the utility and effectiveness of game theory in optimising decision-making in congenital cardiac care. Methodology: The comprehensive literature was searched to identify papers on game theory, and its application within surgery.Results: The analysis demonstrated that by utilising game theories, decision-making can be more aligned with patient-centric approaches, potentially improving clinical outcomes. Conclusion: Game theory is a useful tool for improving decision-making and may pave the way for more efficient and improved patient-centric approaches.

Teaching discrimination in introductory economics: An approach incorporating stratification economics

The authors of this article describe how instructors can incorporate stratification economics (SE) into coverage of discrimination in introductory economics. SE is an economics subfield that provides a framework for understanding how collective action to maintain relative group position can create and sustain economic inequality. They illustrate how to modify Becker’s employer discrimination model to incorporate collective action by identity groups and demonstrate the use of game theory to help students understand the formation and maintenance of group identity. Finally, they show how instructors can use discussion of the racial wealth gap as an opportunity for students to apply elements of the SE framework. Introducing a more relatable and relevant discussion of discrimination and inequality can deepen students’ appreciation for and understanding of economic theory.

THE PROBLEM OF MODEL ADEQUACY IN THE APPLICATION OF GAME THEORY IN INTERNATIONAL RELATIONS

The article considers the use of game theory in international relations and the risks associated with it. An analysis is made of the possibility of reflecting the same real situations using different game models with different connotations. The concept of the adequacy of the model in relation to the situation is considered, as well as the necessary logical stage of proving this adequacy and the risk of manipulative influence in the absence of such proof. Attention is paid to the phenomenon of the model itself and its relation to the real object of modeling.The opinion is argued about the need to prove the similarity before using the analogy as an argument for attempts to persuade on the basis of this similarity. The mechanism of manipulation is considered in which, by skipping the discussion of the adequacy of the model, it is automatically considered adequate, so the author of the model can impose his own forecasts on the consumer of information regarding the development of events, as well as his own subjective vision of the positivity of the results.As an example, two well-known problems in game theory are considered, actively used for modeling international relations: the Prisoner's Dilemma and the Chicken game. An example of modeling the same hypothetical situation using both games and differences in subjective perception of the same results, which are manifested in the choice of which of these games to use, is given. The opinion is given that although both games can be very useful in the field of international relations, when consuming information which incorporates these and other games, it is necessary to carefully check not only the author's forecasts regarding the development of events, but also the assessment of the positivity of the results in the model.

Bielefeld Game Theory and Indiana Institutional Analysis: Elinor Ostrom and Theories of Common-Pool Resources

This article explores the place of game theory in Elinor Ostrom's groundbreaking studies of nonmarket institutions for managing common-pool resources (CPRs) from the 1980s onward. While game theory had been associated with the study of CPRs since at least the later 1960s, the precise way scholars used the theory varied, depending not only on their home discipline but on the locally specific research program they hoped to develop. Ostrom's use of game theory ultimately looked quite different from that of laboratory psychologists studying “commons dilemmas,” political scientists theorizing about constitutional choice, or economists building formal models of sparse markets, bearing perhaps the closest resemblance to the economist Reinhard Selten's skeptical and heterodox applications of game theory to the study of industrial organization. This account of Ostrom's local adaptation of game theory potentially helps us evaluate critiques of her work that focus on her use of rational choice models.

A comparative study of game theory techniques for blind deconvolution

The aim of this study is to lay emphasis on the potential of the use of Game theory to deal with Blind image Deconvolution. We consider a static game of two players. Player one controls the image intensity while the player two controls the blur kernel. In this game each player aims at minimizing his own functional. The outcome of the game is a pair of strategies: a deblurred image and an estimation of the blur kernel, that minimizes two functionals. We determine the optimal image deblurring using two particular game theoretic approaches, recently introduced: the Nash method [Meskine D., Moussaid N., Berhich S. Blind image deblurring by game theory. Proceedings of the 2nd International Conference on Networking, Information Systems & Security (NISS '19). 31 (2019)] and the Kalai–Smorodinsky solution method [Nasr N., Moussaid N., Gouasnouane O. The Kalai Smorodinsky solution for blind deconvolution. Computational and Applied Mathematics. 41, 222 (2022)]. We evaluate the performance of two techniques through numerical experiments and using some objective quality metrics.

Application of Game Theory to Business Decision-making

How to make correct business decisions has become a hot issue that entrepreneurs are concerned about. Some researchers have found that game theory greatly impacts business decisions. However, there is still a lack of a unified explanation of the formation mechanism behind using game theory to make correct business decisions. Therefore, this article explores the use of game theory to make correct business decisions by collecting data on business competition, organizing the data into a benefit matrix, and comparing to conclude, through which the benefits of business cooperation and business competition can be demonstrated. Through research, it is found that game theory plays an important role in business decision-making, which makes a significant difference in planning the future development path of the enterprise. By using game theory models such as the Prisoner’s Dilemma and boxed pigs, entrepreneurs can make optimal business decisions. Through an in-depth understanding of the relevant knowledge of game theory, entrepreneurs can know the timing and maximum benefits of business cooperation and competition, which provides important tips for enterprise reform and development in the new era.

The use of game theory in building sustainable competitive advantage

Creating sustainable competitive advantages is central to both the success and longevity of firms competing in today’s business environment. One powerful tool that businesses can learn from and utilize to potentially foster such advantages is game theory. Further, we have thoroughly researched previous studies and determined three areas in which competitive advantages can be derived from the implementation and understanding of game theory principles. These include improved decision-making, supply chain management, and employee management. Our goal is to analyze the works of experts on the subject to further our understanding of the topic. This research will provide a foundation for the subsequent justifications on how game theory can be utilized to create the competitive advantages we specified. Reviewing our findings has led the researcher to believe that firms of any variety looking to improve their decision-making, supply chain management, and/or employee management could find great value, if not create fully realized competitive advantages, from taking game theory and its observations into consideration.

ВИКОРИСТАННЯ ТЕОРІЇ ІГОР ДЛЯ ФОРМУВАННЯ РЕКОМЕНДАЦІЙНОГО МЕХАНІЗМУ РЕСТОРАННИХ ПОСЛУГ

Global digitalization and migration processes of the population necessitate the formation of services for the convenience and attractiveness of food establishments for consumers. These establishments are designed to address one of the most important human needs - providing quality food for individual needs. This issue is a critical one for Ukraine now, and it will become especially relevant during the post-war recovery. In this regard, the development of approaches to create recommendation mechanisms that will allow you to quickly find a restaurant via the Internet that meets the requirements and needs of the user for the dish, which, in turn, determines the relevance of the study. The purpose of the article is to study the application of game theory in the development of a recommender mechanism for searching for restaurants on the Internet at the user's location in order to improve the level of satisfaction of the needs for quality food. In the course of the study, general scientific methods were used: analysis and synthesis - to conduct a theoretical study of the needs of users searching on the Internet, abstract-logical method - to create logical generalizations based on the results of the analysis of literature sources, methods and approaches of game theory - to substantiate the approach to creating a recommendation mechanism for restaurant services. The article highlights the main features of the use of game theory in marketing to determine the needs of users and promote restaurant services, proposes an algorithm for implementing such an approach and its formal representation. Using the example of the implementation of the two-player strategy, the author shows how a recommendation mechanism can be implemented to satisfy the tastes of two or more consumers, provided that consumers choose restrictions from the context menu, the mechanism is presented through a matrix of recommendations on mixed strategies. A general methodology and a formalized algorithm for the formation of a recommendation mechanism for restaurant services that can be used in the development of restaurant websites and services for finding places to eat according to preferences are proposed. Implementation of theoretical substantiation of mechanisms for creating recommendations based on models of user behavior on the Internet. Formation of restaurant menu suggestions with the possibility of ordering a dish for a certain time of the user's arrival at the restaurant with reference to geolocation.

Unravelling the determinants of family firms' governance: the family protocol

PurposeFamily businesses are essential to the global economy but often grapple with family-related issues, especially during succession. This study explores how governance tools like the family protocol (FP) mitigate conflicts by setting standards for family firm management and continuity. Pioneering the use of game theory and adverse selection setups in family business governance, this research uncovers FP determinants.Design/methodology/approachThis research employs game theory and adverse selection setups to delve into the strategic decision-making processes of stakeholders in family firms. The authors break new ground by applying principal–agent theory (PAT) to family business governance structures. This innovative approach uncovers the determinants of the FP, enhancing the authors’ understanding of family firm dynamics.Findings The authors emphasize the importance of custom governance structures, such as the FP, in managing complex family-business interactions. These structures mitigate conflicts and promote smoother transitions during succession, ensuring family firm continuity. This study identifies key determinants, and these results will aid founders, families and practitioners in achieving smoother transitions, ensuring family firm continuity.Originality/valueThis research pioneers game theory and PAT applications in family business governance, shedding light on the effectiveness of customized governance mechanisms. By identifying FP determinants, the authors contribute to a deeper understanding of family firm dynamics. The findings have practical implications for founders, families, practitioners and consultants, promoting the long-term success and harmony of family firms in the global economy.

Game theory in entrepreneurship: a review of the literature

PurposeThe purpose of this paper is to review the utilization of game theory in the entrepreneurship literature. Game theory can potentially be employed to assess strategies incentivizing productive entrepreneurial activities and subsequent economic development. Therefore, the author reviews entrepreneurship articles and explores the application of game-theoretic models and concepts in the literature.Design/methodology/approachFirst, the author provides an overview of the entrepreneurship ecosystem concept, highlighting key challenges in its study. The author also briefly highlights successful applications of game theory in the innovation literature. Second, the author systematically reviews and synthesizes entrepreneurship research employing game-theoretic models and concepts. The author's objective is to provide a state-of-the-art overview of the use of game theory in entrepreneurship.FindingsBroadly, the author categorizes entrepreneurship-game theory articles into three groups based on their scope and purpose: entrepreneurial policy applications, inter-firm applications and entrepreneurship theory applications. Entrepreneurial policy applications include entrepreneurs and the government or policy as the main players in a game. Inter-firm applications encompass games between entrepreneurs and other private entities. Entrepreneurship theory applications include articles that utilize game theory to advance the author's understanding of entrepreneurial behavior and/or mechanisms in the market.Originality/valueTo the best of the author's knowledge, no previous paper has reviewed the use of game-theoretic approaches and models in entrepreneurship literature. This study addresses this research gap.

Realisation of responsive and sustainable reconfigurable manufacturing systems

There is a lack of a design method for the manufacturing system reconfiguration to cope with the changing demand and evolving production technologies while minimising energy consumption. The key drivers for the new industrial paradigm are flexibility and sustainable manufacturing, which have been studied independently in the prior research. The aim of this research is to study two drivers simultaneously by designing robust models and analysing manufacturing system configurations to achieve feasible solutions in any scenario that may arise due to evolving, incomplete, and unforeseen production requirements, while minimising energy usage during product manufacture. To achieve this goal, this research develops a robustly validated pre-emptive decision engineering framework (DEF) for the manufacturing system reconfiguration process to manage future uncertainty of future conditions and identifies current production vulnerabilities and alternative production portfolios. In this research, a robust RMS reconfiguration strategy is designed using a compromise decision support problem (cDSP), and decentralised decision-making designs are explored through the use of game theory. The findings provide a new production system for adaptable, responsive, and sustainable manufacturing processes in the dynamic global economy. These results can empower stakeholders to make timely design decisions that lead to significant cost savings and sustainable manufacturing.

Statistical Learning in Game Theory

In economics, buyers and sellers are usually the main sides in a market. Game theory can perfectly model decisions behind each “player” and calculate an outcome that benefits both sides. However, the use of game theory is not lim-ited to economics. In this paper, I will introduce the mathematical model of general sum game, solutions and theorems surrounding game theory, and its real life applications in many different scenarios.

Improving supply quality in distribution power networks: A game-theoretic planning approach

Electric companies need to plan carefully the updates in their distribution power networks, assessing not only the expected impact on supply quality indicators, but also the cost of the different possibilities considered. To this end, we propose a planning method to improve the quality of supply in distribution power networks by upgrading devices so that they can be remotely operated. In the first place, our method identifies the lines with the lowest performance in an area of interest. Then, in each of these lines, the set of devices that can be upgraded is used to define the set of players of a cooperative game whose characteristic function provides a measure of the expected performance and economic impact of the updates in the infrastructure. Finally, the best locations to install remote control devices are determined by computing the Shapley value of this cooperative game, which, in addition, offers very valuable insight regarding each location considered. A case study based on a real substation in Spain is used to illustrate our approach and compare its performance with respect to the greedy-based method. • Design of a planning method to improve supply quality in distribution power networks. • Performance analysis of distribution lines based on a Spanish reliability index. • Use of game theory to find a trade-off between supply continuity and network updates. • Selection of the best locations to upgrade devices in the worst performance lines. • Assessment by a Spanish substation case study, outperforming greedy-based methods.

Optimization of Exploration and Production Sharing Agreements Using the Maxi-Min and Nash Solutions

Cooperation between supply chain partners in the oil industry is essential, especially when oil prices suffer from fluctuations that affect the profitability of each party. An essential task in oil field development projects is to create an optimum agreement between the national oil company and the international oil company to guarantee agreement optimization. In this paper, the national oil company is the first party (FP) and the international oil company is the second party (SP). The paper’s purpose is to investigate the use of game theory to obtain the best agreement between the FP and SP in order to enhance the cooperation and reduce conflict. In this paper, Nash and Maxi-min solutions have been applied for the first time in a special type of petroleum agreement, called exploration and production sharing agreements (EPSA). This is conducted for a case study in Libya. The study considers nine negotiation factors (issues) in the EPSA, which are the share percent, the four “A” factors, and the four “B” factors, which are usually affected by the fluctuations of oil prices; and the study investigates their effect on the total payoff function, the net present value (NPV), and internal rate of return (IRR) for both parties. The Maxi-min solution has shown an improvement in the NPV and IRR of the SP, where NPV increased from USD 148 million to USD 195 million, and IRR from 15.65% to 17.01%. The Nash solution has shown a little more improvement than the Maxi-min solution in the NPV and IRR for the SP, where the NPV and IRR have increased from USD 148 million to USD 222 million and from 15.65% to 17.94%, respectively.

A Review of the Use of Game Theory in Project Management

A Review of the Use of Game Theory in Project Management

Social Innovation as a Paradigm of Change in Organisational Management

The paper contributes to the debate on the future of social innovation (SI). The aim of the research was to determine the influence of the subsidy market leader on the valuation of IS by organizations participating in the PROO and NEWFIO competitions. The Stackenberg leadership model was used for this purpose. The research has shown that organisations applying for grants, in most cases, follow the leader, regardless of the competition that sets the price (maximum grant value) for SI. In the futere, use of game theory to describe the role of a leader allows for the strengthening and better adjustment of competition offers to future social and technological challenges, e.i. “Green Deal” for Industry 5.0.

Use of Game Theory as a tool for identifying and mitigating conflicts over water use in the area covered by the Estreito HPP – MA- Brazil

Game Theory (JT) is a mathematical theory that assesses in the strategy games the understanding and interaction of the actors, being an important tool in the identification and analysis of conflicts. Therefore, the objective was to analyze conflicts over water use and propose mitigating measures in the Hydrographic Region of the Middle Tocantins, applying after the identification of possible conflict-generating agents, the JT. This made it possible to identify the conflict scenarios and the degree of intensity in which they occur, varying at high, medium and low levels. The "players" reported that many environmental impacts and conflicts could be avoided if communication were better, emphasizing the need to create a basin committee, which will allow greater interaction between users. Therefore, the JT when used as a tool to identify conflict scenarios due to the use of water, proves to be quite effective, enabling the modeling of scenarios to minimize conflicts.

An upgraded groundwater quality evaluation based on Hasse diagram technique & game theory

To upgrade the groundwater quality evaluation model based on the Hasse diagram technique (HDT), this paper established a new evaluation model based on game theory and HDT. This new model, Upgraded-HDT, has been upgraded in three aspects: selection of the weighting method, combination of weights and simplification of the model calculation steps. The groundwater quality data of nine sample sites in Ganjingzi district of Dalian city in 2013 were used as a case to validate the model. The evaluation results of Upgraded-HDT showed that the groundwater quality of all sites was class III or better, apart from site 5, which was deeply affected by seawater intrusion and pollutant seepage. In addition, the evaluation results of the nemerow pollution index (NPI), fuzzy comprehensive evaluation (FCE), AHP-HDT, Entropy-HDT, Game theory-HDT and Upgraded-HDT were compared and analyzed. The results of AHP-HDT, although verifying the importance of expert experience in evaluating the model, were not sufficiently accurate at sites 4 and 6, while the results of Entropy-HDT at sites 7, 8 and 9 were overly optimistic and did not reflect the real situation of groundwater quality. Hence, the use of a single weighting method could not accurately evaluate water quality. The results of Game theory-HDT were the most accurate and the same as Entropy-HDT at site 4 and AHP-HDT at sites 6, 7 and 8. This showed that in game theory regarding the optimal combination of weights, the advantages of the two complement each other because both take into account the subjective initiative of people and avoid the one-sidedness of a single weighting method. Thus, the use of game theory was necessary. The results of Upgraded-HDT and Game theory-HDT agreed perfectly, which not only ensured the accuracy of the evaluation results but also reduced the computation of the HDT model. This proved that the dimensionless method proposed in this paper was feasible. The results of this study can provide a scientific basis for the protection and utilization of local groundwater resources and serve as a reference for water quality evaluation studies in other areas.

A Bibliometric Analysis and Review of Resource Management in Internet of Water Things: The Use of Game Theory

To understand the current state of research and to also reveal the challenges and opportunities for future research in the field of internet of water things for water quality monitoring, in this study, we conduct a bibliometric analysis and a comprehensive review of the published research from 2012 to 2022 on internet of water things for water quality monitoring. The bibliometric analysis method was used to analyze the collected published papers from the Scopus database. This helped to determine the majority of research topics in the internet of water things for water quality monitoring research field. Subsequently, an in depth comprehensive review of the relevant literature was conducted to provide insight into recent advances in internet of water things for water quality monitoring, and to also determine the research gaps in the field. Based on the comprehensive review of literature, we identified that reviews of the research topic of resource management in internet of water things for water quality monitoring is less common. Hence, this study aimed to fill this research gap in the field of internet of water things for water quality monitoring. To address the resource management challenges associated with the internet of water things designed for water quality monitoring applications, this paper is focused on the use of game theory methods. Game theory methods are embedded with powerful mathematical techniques that may be used to model and analyze the behaviors of various individual, or any group, of water quality sensors. Additionally, various open research issues are pointed out as future research directions.