Browse by author
Lookup NU author(s): Dr Volodymyr Bilotkach
Full text for this publication is not currently held within this repository. Alternative links are provided below where available.
The success of an engineering project typically involves multiple stakeholders beyond the designer alone, such as customers, regulators, or design competitors. Each of these stakeholders is a dynamic decision maker, optimizing their decisions in order to maximize their own profits. However, traditional design optimization often does not account for these interactions, or relies on approximations of stakeholder preferences. Utilizing game theory, we propose a framework for understanding the types of interactions that may take place and their effect on the design optimization formulation. These effects can be considered as an economic uncertainty that arises due to limited information about interactions between stakeholders. This framework is demonstrated for a simple example of interactions between an aircraft designer and an airline. It is found that even in the case of very simple interactions, changes in market conditions can have a significant impact on stakeholder behaviors and therefore on the optimal design. This suggests that these interactions should be given consideration during design optimization.
Author(s): Waycaster G, Bes C, Bilotkach V, Gogu C, Haftka R, Kim N-H
Publication type: Conference Proceedings (inc. Abstract)
Publication status: Published
Conference Name: OPT-i 2014 - 1st International Conference on Engineering and Applied Sciences Optimization, Proceedings
Year of Conference: 2014
Pages: 1699-1712
Acceptance date: 01/01/1900
Publisher: National Technical University of Athens
Library holdings: Search Newcastle University Library for this item
ISBN: 9789609999465
