A framework for accessing the equilibrium point of a multi-objective decision-making (MODM): a case study

Abedian, Mansour; Jouzdani, Javid; Karimpour, AmirHossein; Hejazi, Maryam

doi:10.1007/s00500-022-07507-9

Cited by 2 publications

(2 citation statements)

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“…Game theory is an applied branch of mathematics used in many domains such as economics (Mendoza-Alonzo et al, 2019), politics, management (Prasad et al, 2019), mathematics, engineering (Abedian et al, 2023a) and organization (Ahmadi-javad and Hoseinpour, 2018, Abedian et al, 2023b). Game theory concerns the mathematical study of the decision-making process and mathematical models of conflict and cooperation.…”

Section: Game Theorymentioning

confidence: 99%

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Improving performance evaluation based on the balanced scorecard with data envelopment analysis and game theory approaches: a case study

Abedian,

Shirouyehzad,

Davoodi

2024

JM2

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Purpose This paper aims to propose an integrated use of balanced scorecard (BSC), data envelopment analysis (DEA) and game theory approach as an enhanced performance measurement technique to determine and rank the importance of manufacturing indicators of a steel company as a real case study. Design/methodology/approach An efficiency change ratio is defined to examine the characteristic function of each coalition which is super-additive. Then, the Shapley value index is used as the solution of the cooperative game to determine the importance of the BSC indicators of the company and rank order them. Findings The results reveal that “profitability rate” is the most important BSC indicator, whereas “customer satisfaction” is the least significant one. The ranking order of the importance of all BSC indicators makes it possible for the senior managers of the organization to realize the importance of each index separately and to improve the profitability and the number of customers by presenting programs according to the budget and time constraints. Originality/value The main contribution of this paper lies in the adoption of a game theory approach to performance measurement in the industrial sector that determines and ranks the importance of manufacturing indicators.

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Section: Game Theorymentioning

confidence: 99%

“…, 2019), mathematics, engineering (Abedian et al. , 2023a) and organization (Ahmadi-javad and Hoseinpour, 2018, Abedian et al. , 2023b).…”

Section: Literature Reviewmentioning

confidence: 99%

Improving performance evaluation based on the balanced scorecard with data envelopment analysis and game theory approaches: a case study

Abedian,

Shirouyehzad,

Davoodi

2024

JM2

Self Cite

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A dynamic analysis of the firms in oligopoly market structure: a case study

Basiri,

Abedian,

Aghasi

et al. 2024

JM2

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Purpose Over the last years, powerful advances in the area of dynamic games have enriched game theory and made it more applicable to the modeling of real-world competitive strategies. The study of strategic behaviors of firms in an oligopoly market has received little attention, even though real firms have been shown to compete in output and in price in a single industry. The purpose of this study is to propose a game-theoretic approach to studying strategic behaviors of firms in an oligopoly market structure. Design/methodology/approach This approach was developed to study market dynamics and pricing strategic behavior of firms that have the possibility of deciding to be one of the two types (price-maker or price-taker) and reconsider the choice overtime on the basis of their current insights and knowledge and their experience. Firms try to improve their performance in the competitive market in a strategic way, by considering their steady-state profits and choosing the best type given the other firms’ types, actions and interactions. Findings The results of the present study confirm the previous study that the Cournot market is a stable market, where each firm can be a price-maker and enjoy individual learning as well as social learning. On the contrary, the market with price-takers only is never stable, and, therefore, the Walrasian equilibrium may not be supported in some instances. The Cournot market loses its stability as the number of firms in the market increases due to the fact that it will be more profitable for a firm to switch to price-taking when the number of firms is high enough. In such a situation, when the number of price-takers increases, there are no stable markets and price dynamics are destabilized. Originality/value The study and modeling of real-world competitive strategies would enhance the understanding of oligopoly markets. The study of strategic behaviors of firms in an oligopoly market has received little attention, even though real firms have been shown to compete in output and in price in a single industry as price-takers and price-makers.

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A framework for accessing the equilibrium point of a multi-objective decision-making (MODM): a case study

Cited by 2 publications

References 43 publications

Improving performance evaluation based on the balanced scorecard with data envelopment analysis and game theory approaches: a case study

Improving performance evaluation based on the balanced scorecard with data envelopment analysis and game theory approaches: a case study

A dynamic analysis of the firms in oligopoly market structure: a case study

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