Research on Strategies of Networked Manufacturing Resources Configuration Based on Evolutionary Game

Abstract:

Economic theories of managing resources, traditionally assume that individuals are perfectly rational and thus able to compute the optimal configuration strategy that maximizes their profits. The current paper presents an alternative approach based on bounded rationality and evolutionary mechanisms. It is assumed that network node users face a choice between two resource strategies in real networked manufacturing resources configuration problem (NMRCP). The evolution of the distribution of strategies in the population is modeled through a replicator dynamics equation. The latter captures the idea that strategies yielding above average profits are more demanded than strategies yielding below average profits, so that the first type ends up accounting for a larger part in the population. From a mathematical perspective, the combination of resource and evolutionary processes leads to complex dynamics. The paper presents the existence and stability conditions for each steady-state of the system. A main result of the paper is that under certain conditions both strategies can survive in the long-run.

• Periodical: Advanced Materials Research (Volumes 430-432)
• Pages: 1330-1334
• DOI: https://doi.org/10.4028/www.scientific.net/AMR.430-432.1330
• Online since: January 2012
• Authors: Yan Zhan, Jian Sha Lu, Xue Hong Ji
• Keywords: Bounded Rationality, Evolutionary Mechanisms, Networked Manufacturing Resources Configuration Problem, Replicator Dynamics

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