Cooperative grey games and an application on economic order quantity model

Abstract

Purpose – The purpose of this paper is to extend the results of Meca et al. (2004) depending on the grey information revealed by the individual firms. Design/methodology/approach – The authors introduce cooperative grey games and focus on sharing ordering cost rule (SOC-rule) to distribute the joint cost. Findings – In this study, the authors introduce a model, where inventory costs are assumed as grey numbers instead of crisp or stochastic ones studied in literature. At first, grey numbers and classical cooperative inventory games are recalled. Then, cooperative grey games are introduced and related results are given. Finally, an application is performed for three shotgun companies in Turkey. Originality/value – It is an effective approach for theoretical analysis of systems with imprecise information and incomplete samples. Therefore, grey system theory, rather than the traditional probability theory and fuzzy set theory, is better suited to model the inventory problems by using cooperative game theory. To the best of the knowledge no study exists modeling inventory situations by using cooperative grey games. From this point of view this study is a pioneering work on a promising topic.

A study of player behavior and motivation to purchase Dota 2 virtual in game items

“…Esports have become widely popular nowadays. There are even suggestions that electronic sports, or widely known as eSports, will one day surpass even the most famous regular sports, soccer/football and basketball (Pielke, 2016; Olgun et al. , 2016; Raoufinia et al.…”

“…Esports have become widely popular nowadays. There are even suggestions that electronic sports, or widely known as eSports, will one day surpass even the most famous regular sports, soccer/football and basketball (Pielke, 2016;Olgun et al, 2016;Raoufinia et al, 2019;Uzir et al, 2020). Esports growth has become phenomenal that games are developing into lucrative businesses to game developers and companies (Crandall and Sidak, 2006;Marchand and Hennig-Thurau, 2013;Lehtonen et al, 2020).…”

Optimal Replenishment Policies and Trade Credit for Integrated Inventory Problems in Fuzzy Environment

“…In addition, there is another kind of uncertain inventory problem with "small samples" and "poor information" in reality; some researchers (cf. Dasu et al [38], Olgun et al [39], Yazdi et al [40], and Zhang et al [41]) have attempted to solve the inventory decision problems in this case with grey system theory.…”

Sequencing grey games

“…Several papers about cooperative games grey-valued appeared recently [9,13,14,16,19]. In this case a cooperative game is considered with a grey-valued characteristic function, i.e., the worth of a coalition is not a real number, but an element of the closed interval of real numbers.…”

“…Note that such condition may be not satisfied. Consider for example the sequencing grey situation with N = {1, 2}, σ 0 = {1, 2}, p ∈ ( [2,2], [3,3]) and α ∈ ( [2,4], [12,13]). The grey urgency indices are u 1 ∈ [1, 2] and u 2 ∈ 4, 13 3 , so the switch is profitable, as u 2 is larger than u 1 ; moreover, the greys are disjoint but G 12 ∈ [18,14] is not a grey number.…”