Decentralized Stochastic Control with Partial Sharing Information Structures: A Common Information Approach
نویسندگان
چکیده
A general model of decentralized stochastic control problem in which multiple controllers share part of their information with each other is investigated. The general model subsumes several models of information sharing in decentralized stochastic control as special cases. Structural results for optimal control strategies for the general model are presented. A dynamic program for finding the optimal strategies is also derived. These results are obtained by identifying common information among controllers and formulating the decentralized problem as a centralized problem from the perspective of a coordinator who knows the common information.
منابع مشابه
Coordination of Information Sharing and Cooperative Advertising in a Decentralized Supply Chain with Competing Retailers Considering Free Riding Behavior
This paper studies a decentralized supply chain in which a manufacturer sells a common generic product through two traditional and online retailers under free riding market. We assume that the traditional retailer provides the value added services but the online retailer does not. Factors such as retail prices, local advertising of the retailers, global advertising of the manufacturer and servi...
متن کاملIncentive mechanism based on cooperative advertising for cost information sharing in a supply chain with competing retailers
This paper proposes a new motivation for information sharing in a decentralized channel consisting of a single manufacturer and two competing retailers. The manufacturer provides a common product to the retailers at the same wholesale price. Both retailers add their own values to the product and distribute it to consumers. Factors such as retail prices, values added to the product, and local ad...
متن کاملCoordinating a decentralized supply chain with a stochastic demand using quantity flexibility contract: a game-theoretic approach
Supply chain includes two or more parties linked by flow of goods, information, and funds. In a decentralized system, supply chain members make decision regardless of their decision's effects on the performance of the other members and the entire supply chain. This is the key issue in supply chain management, that the mechanism should be developed in which different objectives should be align...
متن کاملA Separation Theorem for Periodic Sharing Information Patterns in Decentralized Control
Optimal decentralized control of a discrete-time stochastic system is considered under a periodic sharing information pattern. In this scenario, controllers share information with one-step delay every K time steps. The periodic sharing pattern is a generalization of the previously studied one-step delay sharing pattern, which is known to possess a nonclassical separation property. It is proven ...
متن کاملDecentralized stochastic control
Decentralized stochastic control refers to themulti-stage optimization of a dynamical system bymultiple controllers that have access to different information. Decentralization of information gives rise to new conceptual challenges that require new solution approaches. In this expository paper, we use the notion of an information-state to explain the two commonly used solution approaches to dece...
متن کامل