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Game theory based multi criteria decision making problem under uncertainty: a case study on indian tea industry

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Veröffentlicht in: Journal of business economics and management 19(2018), 1, Seite 154-175
Personen und Körperschaften: Debnath, Animesh (VerfasserIn), Bandyopadhyay, Abhirup (VerfasserIn), Roy, Jagannath (VerfasserIn), Kar, Samarjit (VerfasserIn)
Titel: Game theory based multi criteria decision making problem under uncertainty: a case study on indian tea industry/ Animesh Debnath, Abhirup Bandyopadhyay, Jagannath Roy, Samarjit Kar
Format: E-Book-Kapitel
Sprache: Englisch
veröffentlicht:
2018
Gesamtaufnahme: : Journal of business economics and management, 19(2018), 1, Seite 154-175
, volume:19
Schlagwörter:
Aufsatz in Zeitschrift
Quelle: Verbunddaten SWB
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Zusammenfassung: The long-term evolution of multi agent multi criteria decision making (MCDM) and to obtain sustainable decision a novel methodology is proposed based on evolutionary game theory. In this paper multi agent MCDM is represented as an evolutionary game and the evolutionary strategies are defined as sustainable decisions. Here we consider the problem of decision making in Indian Tea Industry. The agents in this game are essentially Indian Tea Estate owner and Indian Tea board. The replicator dynamics of the evolutionary game are studied to obtain evolutionary strategies which could be defined as sustainable strategies. The multi agent MCDM in Indian Tea Industry is considered under different socio-political and Corporate Social Responsibility scenario and groups of Indian Tea Industry. Again, the impacts of imprecision and market volatility on the outcome of some strategies (decisions) are studied. In this paper the imprecision on the impact of the strategies are modelled as fuzzy numbers whereas the market volatility is taken into account as white noise. Hence the MCDM problem for Indian Tea Industry is modelled as a hybrid evolutionary game. The probabilities of strategies are obtained by solving hybrid evolutionary game and could be represented as a Dempster-Shafer belief structure. The simulation results facilitate the Decision Makers to choose the strategies (decisions) under different type of uncertainty.
ISSN: 2029-4433
DOI: 10.3846/16111699.2017.1401553
Zugang: Open Access