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| Title | Understanding the Nature of Predatory Pricing in Large-Scale Market Economy with Genetic Algorithms |
| Creator | 陳樹衡;C.-C. Ni;S. Feng Chen,Shu-Heng |
| Key Words | Chain-store game; Predatory pricing; Evolutionary game; Genetic algorithms; Co-evolutionary stability |
| Date | 1996-09 |
| Date Issued | 9-Jan-2009 12:18:30 (UTC+8) |
| Summary | 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 |
| Relation | Journal of Systems Engineering and Electronics,8(2),33-44 |
| Type | article |
| DOI | http://dx.doi.org/10.1109/ISIC.1996.556227 |
| dc.creator (作者) | 陳樹衡;C.-C. Ni;S. Feng | zh_TW |
| dc.creator (作者) | Chen,Shu-Heng | - |
| dc.date (日期) | 1996-09 | en_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 | en | en_US |
| dc.language | en-US | en_US |
| dc.language.iso | en_US | - |
| dc.relation (關聯) | Journal of Systems Engineering and Electronics,8(2),33-44 | en_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 Algorithms | en_US |
| dc.type (資料類型) | article | en |
| dc.identifier.doi (DOI) | 10.1109/ISIC.1996.556227 | en_US |
| dc.doi.uri (DOI) | http://dx.doi.org/10.1109/ISIC.1996.556227 | en_US |