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Auctions can be represented using applications of game theory because they present explicit trading rules. The efficient programming procedure based on game theory can be implemented in computer algebra systems (CAS). The knowledge can be hidden from user as the CAS application that can be used as regular built-in CAS function. This way, the user can focus to programming test of different strategies...
(1)First, repeated ultimate game was carried out using a computer simulation. As a result, we confirmed that we never behave rationally as standard economics assumes. (2)Second, on the basis of prospect theory, the risk aversion and seeking tendencies were analyzed in gambling situations. It tended that the participant behaved risk-aversively in a gain condition, and showed a risk-seeking behavior...
In order to reduce the loss of owner due to the rent-seeking behavior of construction and supervisor in overseas engineering projects, the paper explored the game relationship of the three parties involved by using game theory. The paper founded tripartite game payoff matrix and analyzed Nash equilibrium of mixed strategy game. The results show that, with the increasing probability of the inspection...
This study investigates a Lowest Unique Integer Game (LUIG) by agent-based simulation. LUIG is a game in which each player submit a positive integer, and the player who has submitted the unique least integer wins. We consider mixtures of two types of players, naive adaptive learner and more sophisticated quasi fictitious play learner, and investigate how each type of player behaves and learns. Our...
In this paper, linear quadratic stochastic zero-sum differential games for discrete-time Markov jump systems are discussed. It is shown that the existence condition of finite horizon stochastic zero-sum games is equivalent to the solvability of the associated difference Riccati equations, and that of infinite horizon stochastic zero-sum games is equivalent to the solvability of the associated algebraic...
In an artificial financial market without real growth, extreme income inequality produces extreme wealth inequality via accumulation. An agent-based model is built to study to what extent a strong tax policy can affect this process. Wealth effect is defined as a positive impact of current wealth on future wealth growth. When wealth effect exists, the appearance of extreme wealth inequality is inevitable.
Our research aims to extend the literature by empirically investigating a few critical aspects of the Newsvendor decision making problem that have not been studied before. First, we look at the impact of playing the game in a competitive (tournament) environment, where all subjects in the room are ranked by their profits after each round. We also study the impact of incrementally adding "decision...
In order to produce optimize the allocation of resources of machinery group intelligent, mechanical resources should be optimized dynamic change. A kind of immune algorithm solve the problem of the dynamic allocation of resources. To minimize the maximum completion time for target function of manufacturing, mechanical operation procedures, resources and delivery time constraint is consider working...
Micro-grid is a emerging smart grid products in recent years. It can integrate distributed resources of regional and electricity load effectively. It has an efficient use of renewable energy characteristics. With more and more application of micro-grid, micro power grid operation has caused wide public concern over the stability of the control method. This paper introduces Energy-Hub to the typical...
When the agent has the motivation fairness preference, the principal of sufficient statistics advocated by the classical contract theory is no longer tenable. By incorporating Rabin motivation fairness model into the classical contract theory, we draw two conclusions: Firstly the optimal contract is over-determinate. That is to say, the optimal incentive contract based on complete information should...
People are not always self-interested, but still have certain altruistic favor, which has certain gender difference. The everyday experience "men are rational animals, while women are sentimental animals" is proved to some extent in the experiments, while the difference is not quite significant in statistics. It shows that girls are more slightly self-interested than boys, while boys are...
Although the Shapley value method can realize the fair income distribution of the R&D alliance, it cannot achieve the Pareto efficiency. We consider a R&D alliance with a supervisor as the third party in uncertain environments. When the alliance income exceeds the predetermined target income, the alliance income ought to be distributed completely among the R&D enterprises according...
Consensus-decision making problems are very common among individuals or organizations and require consistent methods to solve them. In usual study about allocation, the information about benefit about coalition is required beforehand. However preparation of such information is difficult for real case. This paper deals with strategic multi-criteria decision making problems where a consensus among the...
We study decentralized markets which include middlemen, producers and consumers connected via a trading network. We develop a model for trade in such settings based on non-cooperative bargaining with search frictions. Our goal is to investigate how the structure of the trading network and the role of middlemen influence the market's efficiency and fairness. To this end, we introduce the concept of...
According to game theory, the altruistic behavior on complex network is researched by a mechanism Based on reputation and future expectation we proposed. As the information of players' historical behavior, reputation is an important foundation while players choose opponent. The players not only consider current payoff but also care about future payoff when they employ strategy. Simulations and analyses...
By introducing the consumer heterogeneous preference towards retailers, we consider the role of consumer preference on bargaining power. The results show that when consumer preference intensity is different, the retailer with strong consumer preference will be able to take advantage of this feature, and obtain a stronger negotiating capacity. The retailer's bargaining power is increasing with the...
Online reputation has been proved to build trust and decrease uncertainty by prior studies with survey, panel, and experiment data. Aiming to directly measure reputation value, we adopted famous Becker-DeGroot-Marschack (BDM) auction procedure in economics to elicit subject's true willingness to pay (WTP) for product in a three-stage behavior experiment. The image of five-crown and five-heart, neither...
The Internet-enabled lending market is developing rapidly. As a financial innovation market, the regulatory mechanism should be paid attention to control the market risk. The questions of how to regulate become serious. This paper tries to illustrate the regulatory strategy in Internet-enabled lending market by theoretical-game model.
The common fraud events between the public accounting firm and the audited enterprise have occurred frequently, coupled with the lack of supervision and punishment, so that the quality of accounting information is constantly seriously questioned by the public. In this paper, I establish the principal-agent model of uncertainty and without supervision between the accounting firm and enterprise by making...
Enterprise marketing networks have evolved into complex marketing networks from chain of marketing channel. However, current enterprise marketing networks have studied more limit on game decision-making of the single channel between upstream and downstream members. To consider the marketing channels of enterprise marketing networks with complex competitive relationship, the article has built the enterprise...
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