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Awareness and Control Decentralization: Stochastic Case

  • Stochastic Systems
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Abstract

The problem of decision-making under risk is considered. It is assumed that the operating party (also called the Principal) can process only a limited amount of information about an uncertain factor and reckons upon the expected value of his payoff. Two control modes are compared. In the first mode, decision-making is centralized. In the second, the operating party delegates some of his decision authority to several agents. It is assumed that the operating party knows the interests of agents and relies on their rational behavior; in all other respects, the operating party is cautious about the uncertainty of their choice.

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Authors and Affiliations

  1. Dorodnicyn Computing Centre, Russian Academy of Sciences, Moscow, Russia

    M. A. Gorelov & F. I. Ereshko

Authors
  1. M. A. Gorelov
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  2. F. I. Ereshko
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Corresponding authors

Correspondence to M. A. Gorelov or F. I. Ereshko.

Additional information

This paper was recommended for publication by F.T. Aleskerov, a member of the Editorial Board

Russian Text © The Author(s), 2020, published in Avtomatika i Telemekhanika, 2020, No. 1, pp. 52–66.

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Gorelov, M.A., Ereshko, F.I. Awareness and Control Decentralization: Stochastic Case. Autom Remote Control 81, 41–52 (2020). https://doi.org/10.1134/S000511792001004X

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  • DOI: https://doi.org/10.1134/S000511792001004X

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