Abstract
This paper discusses a general approach to obtain optimum performance bounds for (N+1)-person deterministic decision problems, N+1>2, with several levels of hierarchy and under partial dynamic information. Both cooperative and noncooperative modes of decision making are considered at the lower levels of hierarchy; in each case, it is shown that the optimum performance of the decision maker at the top of the hierarchy can be obtained by solving a sequence of open-loop (static) optimization problems. A numerical example included in the paper illustrates the general approach.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 67-87 |
| Number of pages | 21 |
| Journal | Journal of Optimization Theory and Applications |
| Volume | 39 |
| Issue number | 1 |
| DOIs | |
| State | Published - Jan 1983 |
Keywords
- Hierarchical decision problems
- Nash solutions
- Pareto-optimal solutions
- Stackelberg solutions
- dynamic games
- partial dynamic information
ASJC Scopus subject areas
- Management Science and Operations Research
- Control and Optimization
- Applied Mathematics