Dynamic Resource Allocation Withself-|Interested Agents in the Upstream Oil & Gas Iindustry
DOI:
https://doi.org/10.12660/joscmv3n2p78-97Keywords:
Resource allocation, incentive-based contract, mechanism design theory, principal-agent theory, optimization.Abstract
This paper analyzes resource allocation between principal-agent (and between agent-agent) in the upstream oil & gas industry. In the model, we incorporate the parties' preferences as we outline a principal-agent model. Further, we optimize the resource allocation between the parties as they are self-interested with the use of incentive-based contracts with risk and rewards. Our optimization determines that to realize the highest profit, the principal and the involved agents should avoid any agents' becoming dominant. Hence, the volume of sourced items from the agents should not vary too much. We further outline the on-boarding process of new agents in the network and how the network needs to compensate for the potential loss for some of the agents if the network should fulfill the incentive-compatibility condition.Downloads
Published
Issue
Section
License
Submitting a manuscript to the Journal of Operations Supply Chain Management constitutes an assignment of copyright to the Journal and a guarantee that the work is original. It also indicates that the author(s) owns it, and that no part of it has been previously published in substantially the same form, that it is not being published or considered for publication elsewhere, and that any use of others’ materials is by permission or falls within fair use standards of copyright law.
The author(s) is(are) responsible for obtaining any necessary permissions from copyright holders and for paying any necessary fees.
PUBLISHING LANGUAGE
JOSCM publishes articles only in English, but accepts submissions in English and Portuguese. If an article that is written in Portuguese is approved for publication, the author(s) is(are) responsible to hiring a professional appointed by FGV / RAE-publications for translation services.
ORIGINALITY
Manuscripts must be original, unpublished contributions. This means that manuscripts are considered for publication if: 1) they have not been published or accepted for publication in other journal and 2) are not being concurrently considered for publication / under review in other journal.
The authors are permitted to enter separate additional agreements for the non-exclusive distribution of the version of the work published in this journal (e.g., publishing simultaneously in an institutional repository, in self-archiving systems or as a book chapter), recognizing its authorship and initial publication in this journal.
The authors are permitted and encouraged to publish and distribute their work online in institutional repositories or in their own personal webpage at any point before or during the editorial process, as this can generate productive alterations, as well as increase the impact and citations of the published work.
It should be emphasized that works presented at Scientific Conferences are still considered original.
To guarantee that all manuscripts are scanned in the plagiarism checker software Ithenticate twice during the review process; once when first submitted and before final publication.
Authors of manuscripts submitted to JOSCM should follow the publication guidelines proposed for authors by the Committee on Publication Ethics (COPE), available at http://publicationethics.org/resources/guidelines. More on publication ethics below.
INTELLECTUAL PROPERTY
JOSCM is committed to protecting authors intellectual property and, to do so:
- Adopts the Creative Commoms (BY) license in all the texts it publishes (https://creativecommons.org/licenses/by/4.0/);
- Adopts a plagiarism detection software, that is used during the desk review process to guide the editorial decision;
- Adopts actions to avoid and reduce plagiarism and unethical behaviour in publication, in line with the suggestions of COPE/Code of Conduct and Best Practice Guidelines for Journal Editors.
- Assist the scientific community in all aspects of publishing ethics, especially in cases of (suspected) duplicate submission or plagiarism.
- More about Publishing Ethics can be found at the COPE website: http://publicationethics.org/
_________________________________________________________
Copyright 2017 by FGV/EAESP. Journal of Operations and Supply Chain Management is an international journal published twice a year, associated with the SIMPOI congress of the Fundação Getulio Vargas, Escola de Administração de Empresas de São Paulo
Rua Itapeva, 432 - 11º andar - 01332-000 - Bela Vista - São Paulo - São Paulo - Brasil
Phone: (5511) 3799-7898
E-mail: joscm.editorialoffice@fgv.br
This work is licensed under a Creative Commons Attribution 4.0 International License.
