Transaction Cost Allocation in Industrial Symbiosis: A Multiagent Systems Approach

Vahid Yazdanpanah, Devrim M. Yazan, W. Henk M. Zijm

Research output: Chapter in Book/Report/Conference proceedingConference contributionAcademicpeer-review

53 Downloads (Pure)

Abstract

This paper discusses the dynamics of Transaction Cost (TC) in Industrial Symbiosis Institutions (ISI) and provides a fair and stable mechanism for TC allocation among the involved firms in a given ISI. In principle, industrial symbiosis, as an implementation of the circular economy paradigm in the context of industrial relation, is a practice aiming at reducing the material/energy footprint of the firms. The well-engineered form of this practice is proved to decrease the transaction costs at a collective level. This can be achieved using information systems for identifying potential synergies, evaluating mutually beneficial ones, implementing the contracts, and governing the behavior of the established relations. Then the question is: “how to distribute the costs for maintaining such an information system in a fair and stable manner?” We see such a cost as a collective transaction cost and employ an integrated method rooted in cooperative game theory and multiagent systems research to develop a fair and stable allocation mechanism for it. The contribution is twofold: in developing computational multiagent methods for capturing the dynamics of transaction costs in industrial symbiosis and in presenting a novel game-theoretic mechanism for its allocation in industrial symbiosis institutions.

Original languageEnglish
Title of host publicationBNAIC Benelearn 2020 Proceedings
EditorsLu Cao, Walter Kosters, Jefrey Lijffijt
Place of PublicationLeiden
PublisherLeiden University
Pages324-338
Number of pages15
Publication statusPublished - 2020
Event32nd Benelux Conference on Artificial Intelligence, BNAIC 2020 and 29th Annual Belgian-Dutch Conference on Machine Learning, BeneLearn 2020 - Virtual, Online, Netherlands
Duration: 19 Nov 202020 Nov 2020

Publication series

NameBelgian/Netherlands Artificial Intelligence Conference
PublisherBNAIC
Volume2020
ISSN (Print)1568-7805

Conference

Conference32nd Benelux Conference on Artificial Intelligence, BNAIC 2020 and 29th Annual Belgian-Dutch Conference on Machine Learning, BeneLearn 2020
Abbreviated titleBNAIC/BENELEARN 2020
Country/TerritoryNetherlands
CityVirtual, Online
Period19/11/2020/11/20

Keywords

  • Agent-based computational e`conomics
  • Applied AI
  • Industrial symbiosis
  • Multiagent systems
  • Practical applications of multiagent techniques

Fingerprint

Dive into the research topics of 'Transaction Cost Allocation in Industrial Symbiosis: A Multiagent Systems Approach'. Together they form a unique fingerprint.

Cite this