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題名 Understanding the Nature of Predatory Pricing in Large-Scale Market Economy with Genetic Algorithms
作者 陳樹衡;C.-C. Ni;S. Feng
Chen,Shu-Heng
關鍵詞 Chain-store game; Predatory pricing; Evolutionary game; Genetic algorithms; Co-evolutionary stability
日期 1996-09
上傳時間 9-Jan-2009 12:18:30 (UTC+8)
摘要 This paper applies co-evolutionary genetic algorithms to an economic modelling problem. The chain-store game is a game-theoretic model for predatory pricing (price wars); the modelling goal is to study when predatory pricing can arise. It is found that, even under the same payoff structure, the results of the co-evolution of weak monopolists and entrants are sensitive to the representation of the decision-making process. Two representations are studied: 1) the action-based representation, and 2) the strategy-based representation. The former is to represent a naive mind and the latter is to capture a sophisticated mind. For the action-based representation, the convergence results are easily obtained and predatory pricing is only temporary in all simulations. However, for the strategy-based representation, predatory pricing is not a rare phenomenon and its appearance is cyclical but not regular
關聯 Journal of Systems Engineering and Electronics,8(2),33-44
資料類型 article
DOI http://dx.doi.org/10.1109/ISIC.1996.556227
dc.creator (作者) 陳樹衡;C.-C. Ni;S. Fengzh_TW
dc.creator (作者) Chen,Shu-Heng-
dc.date (日期) 1996-09en_US
dc.date.accessioned 9-Jan-2009 12:18:30 (UTC+8)-
dc.date.available 9-Jan-2009 12:18:30 (UTC+8)-
dc.date.issued (上傳時間) 9-Jan-2009 12:18:30 (UTC+8)-
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/23289-
dc.description.abstract (摘要) This paper applies co-evolutionary genetic algorithms to an economic modelling problem. The chain-store game is a game-theoretic model for predatory pricing (price wars); the modelling goal is to study when predatory pricing can arise. It is found that, even under the same payoff structure, the results of the co-evolution of weak monopolists and entrants are sensitive to the representation of the decision-making process. Two representations are studied: 1) the action-based representation, and 2) the strategy-based representation. The former is to represent a naive mind and the latter is to capture a sophisticated mind. For the action-based representation, the convergence results are easily obtained and predatory pricing is only temporary in all simulations. However, for the strategy-based representation, predatory pricing is not a rare phenomenon and its appearance is cyclical but not regular-
dc.format application/en_US
dc.language enen_US
dc.language en-USen_US
dc.language.iso en_US-
dc.relation (關聯) Journal of Systems Engineering and Electronics,8(2),33-44en_US
dc.subject (關鍵詞) Chain-store game; Predatory pricing; Evolutionary game; Genetic algorithms; Co-evolutionary stability-
dc.title (題名) Understanding the Nature of Predatory Pricing in Large-Scale Market Economy with Genetic Algorithmsen_US
dc.type (資料類型) articleen
dc.identifier.doi (DOI) 10.1109/ISIC.1996.556227en_US
dc.doi.uri (DOI) http://dx.doi.org/10.1109/ISIC.1996.556227en_US