Grey Game Theory and Its Applications in Economic Decision-Making

by Zhigeng Fang; Sifeng Liu; Hongxing Shi; Yi Lin

• ISBN13: 9781420087406
• ISBN10: 1420087401
• Format: Nonspecific Binding
• Copyright: 2016-04-19
• Publisher: Taylor & Francis

Summary

To make the best decisions, you need the best information. However, because most issues in game theory are grey, nearly all recent research has been carried out using a simplified method that considers grey systems as white ones. This often results in a forecasting function that is far from satisfactory when applied to many real situations. Grey Game Theory and Its Applications in Economic Decision Makingintroduces classic game theory into the realm of grey system theory with limited knowledge. The book resolves three theoretical issues: A game equilibrium of grey game A reasonable explanation for the equilibrium of a grey matrixof static nonmatrix game issues based on incomplete information The Centipede Game paradox, which has puzzled theory circles for a long time and greatly enriched and developed the core methods of subgame Nash perfect equilibrium analysis as a result #x3B2C; The book establishes a grey matrix game model based on pure and mixed strategies. The author proposes the concepts of grey saddle points, grey mixed strategy solutions, and their corresponding structures and also puts forward the models and methods of risk measurement and evaluation of optimal grey strategies. He raises and solves the problems of grey matrix games. The book includes definitions of the test rules of information distortion experienced during calculation, the design of tokens based on new interval grey numbers, and new arithmetic laws to manipulate grey numbers. These features combine to provide a practical and efficient tool for forecasting real-life economic problems.

Table of Contents

Introduction

Pure Strategy Solutions of Grey Matrix Games Based on Interval Grey Numbers not to Be Determined Directly

Risk Analysis

Study on the Model of Grey Matrix Game Based on Grey Mixed Strategy

Study on the Solution of Grey Matrix Game

Study on Venture Problem of Optimal Pure Strategy Solution Based on Grey Interval Number Matrix Game and Its Control Problem

Study on the Nash Equilibrium Model of Gray Double-Matrix Static and Dynamic Game

Study on the First-Price Sealed Auction Grey Game Model Based on Finite Reasonability

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