In the present work we propose an original analytical model of coopetitive game. We shall apply this analytical model of coopetition (based on normal form game theory) to the Greek crisis, while conceiving this game theory model at a macro level. We construct two realizations of such model,...

Cooperative game theory instruments application to the corporate finance M&A research issues provide an ability to extend the field considered and conclusions obtained. The paper presents the M&A cooperative games modeling and its empiri-cal implementation to analyze the airline strategic...

Game theory has earned recognition in economics along with the development of mathematical economics. It was reflected in Nobel Prizes, especially in 1994, 2005 and 2007. Lloyd Shapley and Alvin Roth award honours the achievements of a distinguished, elderly champion in the paradigm of game...

Economic historians Douglass C. North and Avner Greif use the tools on the New Institutional Economics and Game Theory and draw the attention of economists to the fact that both markets and governments are institutional constructs created by opportunistic individuals and groups with different...

Se realiza un análisis de los determinantes del incumbent failure que surgen de la interdependencia competitiva. Se utiliza herramientas proporcionadas por la teoría de juegos (backward induction y el análisis de estrategias conjuntas en juegos de señalización) para determinar los...

In this paper, we propose a novel algorithmic approach to solve line planning problems. To this end, we model the line planning problem as a game where the passengers are players which aim at minimizing individual objective functions composed of travel time, transfer penalties, and a share of...

In an international joint venture, two parent companies in two countries called the local and the foreign firm found a new enterprise or form a third player – the IJV-management or the board of directors of the IJV. The triangle structure of this particular enterprise creates a special...

This paper analyzes the FTA strategies of China, Japan and Korea (CJK) toward ASEAN countries using a three-player game. It explores the implications of China, Japan, and/or Korea participating in an FTA with ASEAN and the corresponding rewards in a payoff matrix. The Nash equilibrium occurs...

We study prisoner’s dilemmas played in continuous time with flow payoffs over 60 seconds. In most cases, the median rate of mutual cooperation rises to 90% or more. Control sessions with 8-time repeated matchings achieve less than half as much cooperation, and cooperation rates...

The assumption that decision makers choose actions to maximize their preferences is a central tenet in economics. This assumption is often justified either formally or informally by appealing to evolutionary arguments. In contrast, this paper shows that in almost every game, payoff. maximization...