Strategic decision-making and game theoretic approach for the commercialization of nanotechnology

Rohit Pathak, Satyadhar Joshi, Arpit Ludhiyani

Abstract


Game theory cannot be implemented successfully until practical models and the platform on which it can be simulated are explored. The applications of the game theory for various technical problems are introduced and a model for nanotechnology is developed. Recent applications of nanotechnology are considered for model development, with a focus on its application in companies wishing to implement nanotechnology in their future products. The implementation of such models is met by an HPC setup which is used for the developed game theory-based computations for the commercialization of nanotechnology. A classical game is defined depending on various parameters required to predict the rate of commercialization of a nano device. The rate of commercialization is developed and the gaming model is modelled with reference to the commercialization theory. Equilibrium cases pertaining to business in nano domains are studied and a proposal on the impact of various strategic profiles with the payoff is computed. This study is applicable in the study of nanotech wars which may resort to extensive use of nano materials. It can also be used for the estimation of time taken for the commercialization of a nano device. The strategy of a company for the commercialization and implementation of a novel nano device can be affected by other companies’ efforts to do the same; therefore, the need of strategic decision-making emerges. In such strategic conditions, the model may assists companies in their decision-making. In this case, the modelling complexity increases; this aspect has been addressed and the modelling was simplified seeking for a better understanding of the phenomenon.

Keywords


game theory; HPC (High Performance Computing); business; nanotechnology

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"Intellectual Economics" ISSN online 1822-8038 / ISSN print 1822-8011