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| The Optimal Nash Equilibrium Strategies Under Competition | |
| 作者姓名： | 孟力 王崇喜 汪定伟 张爱玲 |
| 作者单位： | [1]SchoolofInformationScience＆Eng.,NortheasternUniv.,Shenyang110004,China／／SchoolofManagement,ShenyangUniv.ofTechnology,Shenyang110023 [2]SchoolofInformationScience＆Eng.,NortheasternUniv.,Shenyang110004,China [3]SchoolofManagement,ShenyangUniv.ofTechnology,Shenyang110023 |
| 基金项目： | NationalNaturalScienceFoundationofChina(No.60084003，70171056) |
| 摘 要： | This paper presented a game theoretic model to study the competition for a single investment oppertunity under uncertainty. It models the hazard rate of investment as a function of competitors‘ trigger level. Under uncertainty and different information structure, the option and game theory was applied to researching the optimal Nash equilibrium strategies of one or more firm. By means of Matlab software, the paper simulates a real estate developing project example and illustrates how parameter affects investment strategies. The paper‘s work will contribute to the present investment practice in China. |
| 关 键 词： | 不可逆投资 博弈论 不定性 实选择 纳什平衡 |
The Optimal Nash Equilibrium Strategies Under Competition |
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| MENG Li ,WANG Chong-xi,WANG Ding-wei,ZHANG Ai-ling.The Optimal Nash Equilibrium Strategies Under Competition[J].Journal of Shanghai Jiaotong university,2004,9(4):91-96. | |
| Authors: | MENG Li WANG Chong-xi WANG Ding-wei ZHANG Ai-ling |
| Institution: | 1. School of Information Science & Eng., Northeastern Univ., Shenyang 110004, China;School of Management, Shenyang Univ. of Technology, Shenyang 110023 2. School of Management, Shenyang Univ. of Technology, Shenyang 110023 3. School of Information Science & Eng., Northeastern Univ., Shenyang 110004, China |
| Abstract: | This paper presented a game theoretic model to study the competition for a single investment oppertunity under uncertainty. It models the hazard rate of investment as a function of competitors' trigger level. Under uncertainty and different information structure, the option and game theory was applied to researching the optimal Nash equilibrium strategies of one or more firm. By means of Matlab software, the paper simulates a real estate developing project example and illustrates how parameter affects investment strategies. The paper's work will contribute to the present investment practice in China. |
| Keywords: | real options irreversible investment game theory uncertainty |
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