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Introduction to Theory of Control in Organizations explains how
methodologies from systems analysis and control theory, including
game and graph theory, can be applied to improve organizational
management. The theory presented extends the traditional approach
to management science by introducing the optimization and
game-theoretical tools required to account for the special nature
of human beings being viewed as control objects. The book
introduces a version of mechanism design that has been customized
to solve the problems that today's managers must contend with. All
mathematical models and mechanisms studied are motivated by the
most common problems encountered by managers in firms and
non-profit organizations. Requiring no prior knowledge of game
theory or mechanism design, the book includes a systematic
introduction to the underlying methodology of modern theory of
control in organizations. The authors use formal methods to
construct robust and efficient decision-making procedures which
support all aspects and stages of management activity over all
decision horizons-from operational to strategic management. The
mathematical and methodological backgrounds of the organizational
mechanisms discussed are not limited to game theory but also
include systems analysis, control theory, operations research, and
discrete mathematics. The book includes a set of exercises in each
chapter-from simple to advanced-that provide the reader with the
understanding required to integrate advanced methods of
optimization, game theory, and mechanism design into daily
managerial practice.
Introduction to Theory of Control in Organizations explains how
methodologies from systems analysis and control theory, including
game and graph theory, can be applied to improve organizational
management. The theory presented extends the traditional approach
to management science by introducing the optimization and
game-theoretical tools required to account for the special nature
of human beings being viewed as control objects. The book
introduces a version of mechanism design that has been customized
to solve the problems that today's managers must contend with. All
mathematical models and mechanisms studied are motivated by the
most common problems encountered by managers in firms and
non-profit organizations. Requiring no prior knowledge of game
theory or mechanism design, the book includes a systematic
introduction to the underlying methodology of modern theory of
control in organizations. The authors use formal methods to
construct robust and efficient decision-making procedures which
support all aspects and stages of management activity over all
decision horizons-from operational to strategic management. The
mathematical and methodological backgrounds of the organizational
mechanisms discussed are not limited to game theory but also
include systems analysis, control theory, operations research, and
discrete mathematics. The book includes a set of exercises in each
chapter-from simple to advanced-that provide the reader with the
understanding required to integrate advanced methods of
optimization, game theory, and mechanism design into daily
managerial practice.
Mechanism Design (MD) is a branch of game theory which deals with
conflict situations involving a principal and a set of active
agents (usually in the presence of asymmetric information).
Mechanism design theory delivers a solution to many management
problems in the form of a control mechanism, (i.e., a formalised
routine of decision-making). Formal results of MD can change the
fundamentals of managerial practice by introducing decision-making
mechanisms in organisations, which are efficient and robust with
respect to employees' self-serving behaviour. The proposed book
seeks a more intensive application of MD methodology and its formal
results in organisations. The main aim of the book is to provide
readers with the basics of an MD-based view on managerial problems,
so that intra-firm policies can be analysed through the looking
glass of employees' behavioural response. A systematic introduction
of the underlying MD methodology is combined with a collection of
ready-to-use mechanisms for solving typical management problems.
The use of MD by individual managers is facilitated by bringing
together mathematical and business literature in a single treatise.
This book is not a purely academic monograph as it contains as few
formulas as possible, and no formal proofs (references to formal
results are provided throughout the text). Courses on MD for
managers are not common in business schools now, and our book
represents the perfect material for such a course.
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