scholarly journals Effective decisions for individualized assessment and minimization of the risk of unfriendly takeover of enterprises: the features of the game theory application

2019 ◽  
Vol 17 (1) ◽  
pp. 370-379
Author(s):  
Oksana Korolovych ◽  
Olha Chabaniuk ◽  
Natalia Ostapiuk ◽  
Yurii Kotviakovskyi ◽  
Nelia Gut
Keyword(s):  
Game Theory ◽  
External Environment ◽  
Point Of View ◽  
Control Moment ◽  
The Game Theory ◽  
Antagonistic Game ◽  
Target Company ◽  
Legislative Framework ◽  
Theory Application ◽  
Detailed Assessment

The conditions for doing business at this stage are often similar in a game in which you need to calculate your actions a few steps ahead. At the same time, it is important to highlight several possible current options and make the necessary decision at the control moment. Moreover, each of the options formed should be justified, understandable and take into account the risk factors and available resources.Today, the main problem of assessing and minimizing the risk of “unfriendly takeover” is due to the fact that in most cases the raider is a player who acts quite legitimately and relies on the loopholes of the current legislative framework. Therefore, it is easier to identify possible actions of the raider and to avoid them within the limits of the reverse game than to deal with the consequences.The purpose of the research is to study the specificity of the individualized assessment and minimization of the risk of “unfriendly takeover” by using elements of game theory.It has been taken into account that the effect of individualization in assessing the risk of unfriendly takeover of enterprises can possibly be achieved on the basis of the application of game theory, the elements of which provide simulation of the unfriendly takeover process within the mathematical description of the inherent combinations of attack/defence as if they actually occurred in time both within one state of the external environment and for their given set.The results allowed forming mathematical decision-making models based on the elements of the antagonistic game “raider-target enterprise” and “raider games with the external environment”, which proved the possibility to: 1) identify possible functions of wins/losses; 2) combinations of attacks that can be neglected (that is, from the point of view of the rationality of decisions, will be rejected by the raider); 3) the ranking of the raider’s “attack combinations” for the reliability of their use during “unfriendly takeover”. Under such conditions, the target company can provide not only a detailed assessment, but also an effective minimization of the risk of “unfriendly takeover” and allocate the best combination of protection.

scholarly journals GAME THEORY APPLICATIONS IN CONSTRUCTION ENGINEERING AND MANAGEMENT / LOŠIMŲ TEORIJOS TAIKYMAS STATYBOS INŽINERIJOS IR VALDYMO SRITYSE

2010 ◽  
Vol 16 (2) ◽  
pp. 348-363 ◽  
Author(s):  
Oleg Kapliński ◽  
Jolanta Tamošaitienė
Keyword(s):  
Game Theory ◽  
Scientific Work ◽  
Point Of View ◽  
Problem Solution ◽  
Construction Engineering ◽  
Research Fields ◽  
Management Area ◽  
The Game Theory ◽  
Theory Application ◽  
Discrete Games

Game theory usually analyses decision‐making processes in various fields. There are different methods of solving decision related problems. Game theory focuses on problem solution from one player s point of view, while game theory emphasizes its analysis in the interaction among many players. Much of game theory is concerned with finite, discrete games, which have a finite number of players, moves, events, outcomes, etc. Many researchers in different research fields’ work applied the game theory in: construction engineering, management area. The article presents review of 42 years of scientific work of Professor Friedel Peldschus in the fields of game theory application in construction engineering and management. A review of scientific achievements and activity of Professor Friedel Peldschus, focusing on his research. Santrauka Taikant lošimų teoriją analizuojami sprendimu priemimo procesai įvairiose srityse. Yra įvairiu būdų spręsti problemas. Lošimu teorija gali būti orientuota į problemą vieno lošejo požiūriu ir gali analizuoti daugelio lošeju tarpusavio sąveiką. Daugiausiai lošimu teorija susijusi su galutiniais atskirais lošimais, kurių ribotas dalyvių skaičius, judėjimas, įvykiai, rezultatai ir t. t. Daugelis įvairių mokslinių sričių tyreju taiko lošimo teoriją statybos inžinerijos, valdymo srityse. Straipsnyje pateikiama prof. Friedel Peldschus 42 metų mokslinių tyrimų apžvalga apie lošimų teorijos taikymą statybos inžinerijos ir vadybos srityse, nagrinejami moksliniai pasiekimai ir veikla, atkreipiamas dėmesys į pasiektus mokslinių tyrimų rezultatus.

Initial Price Strategies of Polish Micro and Small Enterprises

2017 ◽  
pp. 126-143
Author(s):  
Mariusz Maciejczak ◽  
Adrian Słodki
Keyword(s):  
Game Theory ◽  
Point Of View ◽  
Medium Size ◽  
Small Enterprises ◽  
Small Companies ◽  
Case Scenario ◽  
Worst Case ◽  
The Game Theory ◽  
Real Market ◽  
And Performance

The sector of micro, small and medium size enterprises is important for any economy. It is important also for Poland. Analyzing the industrial organization of this sector it was confirmed that the owners and managers of such companies are applying strategies, which are rational from their point of view, but not from the perspective of real market conditions. It is argued therefore that the game theory is for them a solution in enhancing competences and performance of their organizations. Based on randomized sample of Polish micro and small companies the paper aimed to find out if the managers apply the game theory rationales when choosing price strategy when enter the market. It was confirmed that they do not and that they don't play Nash equilibrium in the strategic interaction when it comes to the price level. There was applied maxmin strategy, which maximises the worst - case scenario from the game. Thus there is a real chance that if entrepreneurs would analyze the situation with respect of game theory, their strategies would be more accurate and provide better outcomes.

EXPERIENCE OF THE GAME THEORY APPLICATION IN CONSTRUCTION MANAGEMENT / LOŠIMŲ TEORIJOS TAIKYMO PATIRTIS STATYBOS VADYBOJE

2008 ◽  
Vol 14 (4) ◽  
pp. 531-545 ◽  
Author(s):  
Friedel Peldschus
Keyword(s):  
Game Theory ◽  
Solution Strategies ◽  
Conflict Situations ◽  
Engineering Problems ◽  
The Game Theory ◽  
Potential Applications ◽  
Fuzzy Games ◽  
Theory Application ◽  
Construction Operation ◽  
Zero Sum

The game theory allows mathematical solutions of conflict situations. Besides the fairly established application to economical problems, approaches to problems in construction operation have been worked out. An overview of applications is given. Solution strategies for such engineering problems are collected. Furthermore, concrete application examples are presented and an overview of further potential applications is given. Solutions of two‐person zero‐sum games are discussed as well as approaches to fuzzy games. Santrauka Lošimų teorija teikia matematinių sprendimų konfliktinėse situacijose. Straipsnyje pateikta daug ekonominių problemų sprendimo pavyzdžių, sukurtų statybos valdymo problemų sprendimo metodikų. Atlikta šių tyrimų apžvalga, surinktos minėtų inžinerinių problemų sprendimo strategijos. Pateikiami konkretūs teorijos taikymo pavyzdžiai dabarties sąlygomis ir ateityje. Aptariami „dviejų asmenų nulinės sumos“ lošimų sprendiniai, taip pat neapibrėžtų aibių teorijos taikymo lošimuose atveju.

scholarly journals Substantiation of selecting the priority innovation solution in construction using the game theory apparatus

2020 ◽  
Vol 17 (3) ◽  
pp. 238-244
Author(s):  
N. V. Chepachenko ◽  
◽  
M. M. Lutsenko ◽  
A. M. Demin ◽  
◽  
...  
Keyword(s):  
Game Theory ◽  
External Environment ◽  
Economic Activities ◽  
Managerial Decisions ◽  
Innovative Solutions ◽  
The Game Theory ◽  
Game Theoretic ◽  
Selection Of ◽  
Economic Risks

The article presents the results of the study of the current development direction of applied aspects of the game theory tools application in order to improve the quality of substantiation of selecting managerial decisions by participants in construction activities in relation to the situation of uncertainty in changing the external environment. The authors consider some methodological and applied aspects of modeling the process of substantiating the selection of innovative solutions in the activities of construction organizations using statistical games taking into account the situation of insufficient information for making managerial decisions that affect the efficiency of economic activities of construction participants and generate economic risks. A methodological example of applying game-theoretic modeling is considered in substantiating the selection of priority innovative solutions in the field of industrial-civil and transport construction using the “games with nature” class in a situation of partial uncertainty in changes in the external environment. There have been identified some potential applications of statistical games in combination with probability theory that expand the scope of game-theoretic modeling in order to improve the substantiation quality of selecting priority innovative solutions and reducing economic risks in the activities of construction participants.

Analysis of Game Theory Application in the Land Acquisition of Major Projects in China's Urban Area

2013 ◽  
Vol 773 ◽  
pp. 738-743
Author(s):  
Yao Ni ◽  
Wen Ze Yue
Keyword(s):  
Game Theory ◽  
Urban Area ◽  
Land Acquisition ◽  
Game Model ◽  
The Game Theory ◽  
Theory Application ◽  
The Government

In this paper, the author utilizes the game theory to analyze the interest expression, game strategies and the inter-game relation of stakeholders including government, developers, land-contributing units and citizens in the major projects. Then the game model is built to focus on the game relations between the government and landcontributing units as well as citizens, aiming to identify factors that promote the balance. Finally, the game solutions are proposed.

Theory of Games and Theory of International Relations

2011 ◽  
pp. 79-89
Author(s):  
D. Degterev ◽  
A. Degterev
Keyword(s):  
Social Sciences ◽  
Game Theory ◽  
International Relations ◽  
International Organizations ◽  
Strategic Behavior ◽  
The United States ◽  
The Social ◽  
The Game Theory ◽  
Theory Application ◽  
Multilateral Regimes

The author proposes a historiographical study of the game theory application to the analysis of international negotiations, conditions for modification of multilateral regimes, mechanisms of decision-making in the international organizations. Game theory is a mathematical theory for analysis of strategic behavior (interaction) and it is widely used in the social sciences. It explains the logic of rational behavior of individuals in situations of conflict of interest. Game theory is used by foreign researchers as a method of analysis of international relations. The domestic researchers, however, do not often resorts to it. The “golden age” of game theory was the era of global confrontation between the USSR and the United States.

Reputation and Gossip in Game Theory

2019 ◽  
pp. 213-229
Author(s):  
Charles Roddie
Keyword(s):  
Game Theory ◽  
Strategic Behavior ◽  
Third Party ◽  
The Past ◽  
Past Behavior ◽  
Future Behavior ◽  
The Game Theory ◽  
Shed Light

When interacting with others, it is often important for you to know what they have done in similar situations in the past: to know their reputation. One reason is that their past behavior may be a guide to their future behavior. A second reason is that their past behavior may have qualified them for reward and cooperation, or for punishment and revenge. The fact that you respond positively or negatively to the reputation of others then generates incentives for them to maintain good reputations. This article surveys the game theory literature which analyses the mechanisms and incentives involved in reputation. It also discusses how experiments have shed light on strategic behavior involved in maintaining reputations, and the adequacy of unreliable and third party information (gossip) for maintaining incentives for cooperation.

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